327 Coddington Road, Ithaca, NY 14850
Local realty services provided by:HUNT Real Estate ERA
Listed by: lindsay hart
Office: re/max in motion
MLS#:R1694420
Source:NY_GENRIS
Price summary
- Price:$510,000
- Price per sq. ft.:$125.74
About this home
Investment opportunity with four rental units, two separate dwellings, panoramic Ithaca views, and a premier South Hill location are exceptionally rare.
Located in the TOWN of ITHACA with valley views, this rare four-unit property offers the opportunity to build equity while generating income from day one. Featuring two separate buildings, four rental units, and a coveted South Hill location just minutes from Ithaca College.
Whether you are looking to secure an asset for your portfolio or "house-hack" where rent covers your living expenses, this multi-structure setup stands ready to deliver.
The owner's unit feels more like a private home than an apartment, featuring a spacious kitchen with maple cabinetry, granite countertops, and a breakfast bar, an inviting living room centered around a classic brick fireplace, a sun-filled bonus room perfect for a home office or reading nook, and direct access to an expansive covered patio.
The property includes three units within the main house along with a detached two-story bungalow, creating four distinct income opportunities. Two tenants are secured through July 2027, providing dependable long-term income, while the first-floor unit and lower-level apartment offer immediate flexibility for an owner-occupant or an investor looking to lease.
Rents are currently structured to include heat, water, sewer, and trash removal.
This property is being sold As-Is, eliminating negotiation friction and accelerating your path to closing. To make your transaction seamless, professional home inspections and radon tests have already been completed for both structures. The reports are available for review, allowing you to bypass the usual multi-week inspection delays and secure your financing with total clarity.
With two units leased through July 2027, your baseline revenue is guaranteed from day one.
Net Rentable (SqFt) 2,838
Cap Rate. 8%
1.37× DSCR...
Contact an agent
Home facts
- Year built:1945
- Listing ID #:R1694420
- Added:47 day(s) ago
- Updated:August 23, 2026 at 02:52 PM
Rooms and interior
- Bedrooms:6
- Total bathrooms:4
- Full bathrooms:4
- Flooring:Carpet, Laminate, Varies, Vinyl
- Basement:Yes
- Basement Description:Finished, Full
- Living area:4,056 sq. ft.
Heating and cooling
- Cooling:Zoned
- Heating:Baseboard, Electric, Gas, Zoned
Structure and exterior
- Roof:Shingle
- Year built:1945
- Building area:4,056 sq. ft.
- Lot area:0.84 Acres
- Lot Features:Near Public Transit, Rectangular, Residential Lot
- Construction Materials:Frame
- Exterior Features:Balcony, Open, Porch
- Foundation Description:Block
Schools
- Elementary school:South Hill
Utilities
- Water:Connected, Public, Water Connected
- Sewer:Connected, Sewer Connected
Finances and disclosures
- Price:$510,000
- Price per sq. ft.:$125.74
- Tax amount:$12,147
Features and amenities
- Laundry features:Electric Water Heater
- Amenities:Balcony
Parking
- Parking description:Concrete Driveway, Gravel Driveway
New listings near 327 Coddington Road
- Open Tue, 4 to 6pmNew
$669,000Active4 beds 4 baths4,011 sq. ft.9 Woodland Way, Ithaca, NY 14850
MLS# R1708178Listed by: WARREN REAL ESTATE OF ITHACA INC. (DOWNTOWN) - New
$395,000Active5 beds 4 baths2,964 sq. ft.580 King Road W, Ithaca, NY 14850
MLS# R1707644Listed by: WARREN REAL ESTATE OF ITHACA INC. (DOWNTOWN) - Open Sun, 11am to 1pmNew
$323,000Active3 beds 2 baths1,429 sq. ft.309 S Plain Street, Ithaca, NY 14850
MLS# R1707977Listed by: HOWARD HANNA S TIER INC - New
$549,000Active4 beds 2 baths1,456 sq. ft.1025 Hanshaw Road, Ithaca, NY 14850
MLS# R1697633Listed by: WARREN REAL ESTATE OF ITHACA INC. - New
$42,000Active0.15 Acres116 Sunrise Road, Ithaca, NY 14850
MLS# R1706856Listed by: WARREN REAL ESTATE OF ITHACA INC. - New
$75,000Active0.62 Acres0 (NEAR 896) Cayuga Heights Road, Ithaca, NY 14850
MLS# R1708177Listed by: HOWARD HANNA S TIER INC - Open Sun, 10 to 11amNew
$259,900Active2 beds 1 baths1,152 sq. ft.31 Penny Ln, Ithaca, NY 14850
MLS# R1708450Listed by: ITHACA REAL ESTATE, INC. - New
$360,000Active6 beds 3 baths2,438 sq. ft.112-114 Sunrise Road, Ithaca, NY 14850
MLS# R1708089Listed by: WARREN REAL ESTATE OF ITHACA INC.
$420,000Active4 beds 3 baths2,275 sq. ft.391 Gunderman Road, Ithaca, NY 14850
MLS# R1704051Listed by: WARREN REAL ESTATE OF ITHACA INC. (DOWNTOWN)- New
$289,900Active3 beds 2 baths1,720 sq. ft.496 Hayts Road, Ithaca, NY 14850
MLS# R1706837Listed by: WARREN REAL ESTATE OF ITHACA INC.