Seller's Agent in 2021
Claudia Lagalla
Howard Hanna S Tier Inc
(607) 342-3749
1 in this area
126 Total Sales
114 S Geneva St Ithaca, NY 14850
Downtown Ithaca NeighborhoodEstimated Value: $646,003
--
Bed
--
Bath
3,915
Sq Ft
$165/Sq Ft
Est. Value
Highlights
- Forced Air Heating System
- DeWitt Middle School Rated A-
- 4-minute walk to Bernie Milton Pavilion
About This Home
As of July 2021Fantastic location and excellent ROI with 8% CAP rate. Multi-unit commercial property in the heart of downtown Ithaca. Take over an existing lease ending 10/31/21 providing a gross yearly rent of $68,676 with automatic annual renewal. 2,284 square feet of office space on the main floor with 2 bathrooms. 3 apartments upstairs legal for 6 unrelated occupants. Apartments are 2 bedroom, 1 bedroom, and a studio. Current tenant Master leases the building and is responsible for all utilities, trash, landscaping, snow removal. Tenant maintains all interior including: heating, window AC units, doors, walls, fixtures, and responsible for repairs to keep premises in good repair. Owner maintains the roof, driveway, plumbing and exterior walls. Entire exterior just painted. Ample parking lot w/ entry from Green or Geneva St, with room for more than 10 cars. Instant source of positive cash flow, and will be highly profitable as completely residential multi-unit in the heart of a thriving downtown.
Last Agent to Sell the Property
Howard Hanna S Tier Inc Brokerage Email: homes@clagalla.com License #10301206699 Listed on: 07/22/2020
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,920
Year Built
- Built in 1975
Lot Details
- 7,405 Sq Ft Lot
Home Design
- 3,915 Sq Ft Home
- Stone Foundation
- Poured Concrete
- Frame Construction
- Asphalt Roof
Kitchen
- Gas Oven
- Gas Range
Basement
- Walk-Out Basement
- Basement Fills Entire Space Under The House
Schools
- Dewitt Middle School
Utilities
- Forced Air Heating System
- Heating System Uses Gas
Listing and Financial Details
- Tenant pays for common area maintenance, electricity, heat, janitorial service
- Assessor Parcel Number 71.-4-7
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 22, 2020
Closed on
Jul 26, 2021
Sold by
Al Lily Llc
Bought by
Voyage Athena Llc
Seller's Agent
Claudia Lagalla
Howard Hanna S Tier Inc
Buyer's Agent
Colleen Cowan
Warren Real Estate of Ithaca Inc.
List Price
$495,000
Sold Price
$500,000
Premium/Discount to List
$5,000
1.01%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$146,003
Avg. Annual Appreciation
5.93%
Original Mortgage
$400,000
Outstanding Balance
$364,050
Interest Rate
2.96%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$281,953
Purchase Details
Closed on
May 17, 2006
Sold by
Lehigh Valley House Resta And Hotel Inc
Bought by
A L Lily Llc
Purchase Details
Closed on
May 22, 2000
Sold by
Ciaschi Timothy
Bought by
Lehigh Valley House Resta
Purchase Details
Closed on
Oct 4, 1999
Sold by
Cacciotti Louis J
Bought by
Ciaschi Timothy
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Voyage Athena Llc | $500,000 | None Available | |
| A L Lily Llc | $240,000 | Matthew A Peterson | |
| Lehigh Valley House Resta | -- | -- | |
| Ciaschi Timothy | $125,417 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Voyage Athena Llc | $400,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/26/2021 07/26/21 | Sold | $500,000 | +1.0% | $128 / Sq Ft |
| 06/26/2021 06/26/21 | Pending | -- | -- | -- |
| 07/22/2020 07/22/20 | For Sale | $495,000 | -- | $126 / Sq Ft |
Source: Ithaca Board of REALTORS®
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $11,161 | $550,000 | $65,000 | $485,000 |
| 2023 | $12,222 | $550,000 | $65,000 | $485,000 |
| 2022 | $18,346 | $475,000 | $65,000 | $410,000 |
| 2021 | $18,346 | $475,000 | $65,000 | $410,000 |
| 2020 | $5,763 | $220,000 | $65,000 | $155,000 |
| 2019 | $4,942 | $290,000 | $65,000 | $225,000 |
| 2018 | $7,063 | $290,000 | $65,000 | $225,000 |
| 2017 | $7,240 | $290,000 | $65,000 | $225,000 |
| 2016 | $7,305 | $290,000 | $65,000 | $225,000 |
| 2015 | -- | $275,000 | $65,000 | $210,000 |
| 2014 | -- | $275,000 | $65,000 | $210,000 |
Source: Public Records
Agents Affiliated with this Home
-
Claudia Lagalla
-
Colleen Cowan
Buyer's Agent in 2021
Colleen Cowan
Warren Real Estate of Ithaca Inc.
(607) 342-6495
2 in this area
86 Total Sales
Map
Source: Ithaca Board of REALTORS®
MLS Number: IB402515
APN: 500700-071-000-0004-007-000-0000
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