NOT LISTED FOR SALE

508 University Ave Ithaca, NY 14850

-- Bed
-- Bath
2,452 Sq Ft
6,970 Sq Ft Lot

Last Sold November 08, 2023

Last sale price $607,000 $248 Per Sq Ft

115 Days on Market

About This Home

As of November 2023

This house was built as a rooming house and income property by Evelyn Powelson, who lived at 504 University. This house has 5 units, legal for 12 unrelated tenants. Owner working on new C of C, including fresh electrical cert. Gross income is $81,200 includ. $2k annually from 2 washers and 3 dryers in laundry. Tenants in neighboring bldgs also use laundry machines. 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. 2 units on main level pay their own electric, but landlord pays all other electricity. Apts are provided partially furnished; seller to provide inventory of furniture and appliances.

Last Agent to Sell the Property

Carol Bushberg

Warren Real Estate of Ithaca Inc. (Downtown) License #10301223410 Listed on: 06/16/2023

Last Buyer's Agent

Carol Bushberg

Warren Real Estate of Ithaca Inc. (Downtown) License #10301223410 Listed on: 06/16/2023

Property Details

Home Type

Multi-Family

Year Built

1895

Lot Details

0

Listing Details

  • Prop. Type: Multi Family
  • Lot Size Acres: 0.16
  • Subdivision Name: University Hill Historic
  • Directions: Property is on the west side of University Avenue, between Linn and Lake Streets.
  • Year Built: 1895
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: See Remarks
  • Has Basement: Full, Partially Finished, Walk-Out Access
  • Basement YN: Yes
  • Interior Amenities: Ceiling Fan(s)
  • Living Area: 2452.0

Exterior Features

  • Construction Type: Frame
  • Foundation Details: Stone
  • Roof: Asphalt

Garage/Parking

  • Parking Features: Concrete, No Driveway, Off Site, Other, Parking Available, One Space, On Street, See Remarks, Two or More Spaces

Utilities

  • Laundry Features: Common Area, Coin-operated
  • Cooling: Separate Meters
  • Heating: Gas, Separate Meters, Baseboard, Hot Water
  • Heating Yn: Yes
  • Sewer: Connected
  • Utilities: Sewer Connected, Water Connected
  • Water Source: Connected, Public

Schools

  • Elementary School: Fall Creek Elementary
  • Junior High Dist: Ithaca
  • Middle Or Junior School: Boynton Middle

Lot Info

  • Lot Size Sq Ft: 6970.0
  • Parcel #: 500700 32.-2-1
  • ResoLotSizeUnits: Acres

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Number Of Units In Community: 4
  • Number Of Units Total: 5

Tax Info

  • Tax Annual Amount: 16100.0

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/08/2023 11/08/23 Sold $607,000 -5.0% $248 / Sq Ft
10/09/2023 10/09/23 Pending -- -- --
06/16/2023 06/16/23 For Sale $639,000 -- $261 / Sq Ft
Source: Ithaca Board of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Ithaca Board of REALTORS®

MLS Number: IB408818