Fully occupied, income-producing triplex in downtown Ithaca with gross annual rental income of approximately $58,000 and net operating income exceeding $36,000. All three units are leased through next July, providing immediate cash flow for investors. Financial information is available for qualified buyers.
Ideally located within walking distance of The Commons, Cornell University, restaurants, shopping, and Wegmans, this well-maintained property includes a spacious 3-bedroom apartment, a large 1-bedroom apartment, and a studio apartment.
Significant improvements include a new boiler (2022), new hot water heater (2024), porch roofs (2024), and the main roof replaced in 2014. The current Certificate of Occupancy is valid through September 2026 and a new 3-year COO is in progress.
The 3-bedroom apartment and studio are furnished, and utilities (except phone, cable, and internet) are included.
This is an excellent opportunity for investors seeking a stabilized multifamily property with established tenants and a strong rental history in one of Ithaca's most desirable rental markets.
All three units are fully leased providing immediate income from day one. Long term tenants and stable occupancy!
Active
Price cut: $30K (8/3)
$469,900
316 W Seneca St, Ithaca, NY 14850
5beds
2,747sqft
Triplex, Multi Family
Built in 1860
-- sqft lot
$-- Zestimate®
$171/sqft
$-- HOA
What's special
Studio apartment
- 385 days
- 232
- 9
Zillow last checked:
Listing updated:
Listed by:
Howard Hanna S Tier Inc 607-257-0800,
Kevin Duffey 6072590021
Source: NYSAMLSs,MLS#: R1638081
Originating MLS: Ithaca Board of Realtors
Originating MLS: Ithaca Board of RealtorsFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 4
- Full bathrooms: 3
- 1/2 bathrooms: 1
Heating
- Gas, Hot Water
Cooling
- Window Unit(s), Wall Unit(s)
Appliances
- Included: Gas Water Heater
Features
- Window Treatments
- Flooring: Carpet, Hardwood, Varies, Vinyl
- Windows: Drapes
- Basement: Full
- Has fireplace: No
- Furnished: Yes
Interior area
- Total structure area: 2,747
- Total interior livable area: 2,747 sqft
Video & virtual tour
Property
Parking
- Parking features: Common, On Street, Two or More Spaces, Garage
- Has garage: Yes
Features
- Levels: Two
- Stories: 2
- Exterior features: Private Yard, See Remarks
Lot
- Size: 7,274 Square Feet
- Dimensions: 55 x 132
- Features: Rectangular, Rectangular Lot, Residential Lot
Details
- Parcel number: 50070006000000050170000000
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Triplex
- Property subtype: Triplex, Multi Family
Materials
- Aluminum Siding, Vinyl Siding, Copper Plumbing
- Foundation: Block, Stone
- Roof: Asphalt,Flat,Membrane,Rubber,Shingle
Condition
- Resale
- Year built: 1860
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Connected
- Water: Connected, Public
- Utilities for property: Sewer Connected, Water Connected
Community & HOA
Location
- Region: Ithaca
Financial & listing details
- Price per square foot: $171/sqft
- Tax assessed value: $390,000
- Annual tax amount: $11,734
- Date on market: 9/15/2025
- Cumulative days on market: 384 days
- Listing terms: Assumable,Cash,Conventional,FHA,Lender Approval,Rehab Financing,VA Loan
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/3/2026 | Price change | $469,900-6%$171/sqft |
Source:  NYSAMLSs #R1638081 Report a problem | ||
| 6/8/2026 | Price change | $499,900-5.7%$182/sqft |
Source: NYSAMLSs #R1638081 Report a problem | ||
| 3/31/2026 | Price change | $529,900-3.6%$193/sqft |
Source: NYSAMLSs #R1638081 Report a problem | ||
| 2/16/2026 | Price change | $549,900-0.9%$200/sqft |
Source: NYSAMLSs #R1638081 Report a problem | ||
| 1/16/2026 | Price change | $554,900-0.9%$202/sqft |
Source: NYSAMLSs #R1638081 Report a problem | ||
| 10/31/2025 | Price change | $559,900-1.8%$204/sqft |
Source: NYSAMLSs #R1638081 Report a problem | ||
| 9/15/2025 | Listed for sale | $569,900+469.9%$207/sqft |
Source: NYSAMLSs #R1638081 Report a problem | ||
| 10/31/1997 | Sold | $100,000$36/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | -- | $390,000 |
| 2024 | -- | $390,000 +18.2% |
| 2023 | -- | $330,000 +10% |
| 2022 | -- | $300,000 +15.4% |
| 2021 | -- | $260,000 |
| 2020 | -- | $260,000 +8.3% |
| 2019 | -- | $240,000 |
| 2018 | -- | $240,000 +20% |
| 2017 | $6,217 | $200,000 |
| 2016 | -- | $200,000 +14.3% |
| 2015 | -- | $175,000 |
| 2014 | -- | $175,000 +12.9% |
| 2013 | -- | $155,000 |
| 2012 | -- | $155,000 |
| 2011 | -- | $155,000 |
| 2010 | -- | $155,000 |
| 2009 | -- | $155,000 |
| 2008 | -- | $155,000 +14.8% |
| 2007 | -- | $135,000 |
| 2006 | -- | $135,000 |
| 2005 | -- | $135,000 |
| 2004 | -- | $135,000 +32.4% |
| 2003 | -- | $102,000 |
| 2002 | -- | $102,000 |
| 2001 | -- | $102,000 |
| 2000 | -- | $102,000 |
Find assessor info on the county website
Monthly payment
Climate risks
Neighborhood: 14850
Nearby schools
Schools provided by the listing agent
- Elementary: Beverly J Martin Elementary
- District: Ithaca
Source: NYSAMLSs. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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