508 University Avenue

Ithaca, NY 14850

5-Unit Investment Property at the Edge of the Cornell Campus!

Gross income from this building is $72,360 including coins from 2 washers and 3 dryers used by 3 neigboring properties.

This house was built as a rooming house and income property by Evelyn Powelson, who lived at 504 University. This house now has 5 units, legal for 12 unrelated people. 2020 Certificate of Compliance to convey. 2 Navien combo boilers/hot water heaters; one serves ground floor apt and the other heats the other units.One of the Naviens makes hot water for the laundry. Seller pays for all heat and hot water, including laundry. Main level units pay their own electric bills but landlord pays all other electricity. Apts are provided partially furnished; seller to provide inventory of furniture and appliances. Tenants in all four buildings have rights to use coin-op laundry located in this building.