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.
Sold for $607,000 on 11/08/23
$607,000
508 University Ave, Ithaca, NY 14850
8beds
0baths
2,452sqft
Multi Family
Built in 1895
-- sqft lot
$638,800 Zestimate®
$248/sqft
$3,208 Estimated rent
What's special
Zillow last checked: 7 hours ago
Listing updated: June 24, 2024 at 09:18am
Listed by:
Carol Bushberg 607-279-4530,
Carol Bushberg Real Estate,
Edward Finegan 607-279-0234,
EDWARD J FINEGAN
Bought with:
Carol Bushberg, 10301223410
Carol Bushberg Real Estate
Source: NYSAMLSs,MLS#: IB408818
Originating MLS: Ithaca Board of Realtors

Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 0
Heating
- Gas, Separate Meters, Baseboard, Hot Water
Cooling
- Separate Meters
Appliances
- Included: See Remarks
- Laundry: Common Area, Coin-operated
Features
- Ceiling Fan(s)
- Basement: Full,Partially Finished,Walk-Out Access
Interior area
- Total structure area: 2,452
- Total interior livable area: 2,452 sqft
Property
Parking
- Parking features: Concrete, No Driveway, Off Site, Other, Parking Available, One Space, On Street, See Remarks, Two or More Spaces
Lot
- Size: 6,969 sqft
Details
- Parcel number: 500700 32.21
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Frame
- Foundation: Stone
- Roof: Asphalt
Condition
- Year built: 1895
Utilities & green energy
- Sewer: Connected
- Water: Connected, Public
- Utilities for property: Sewer Connected, Water Connected
Community & neighborhood
Community
- Community features: Laundry Facilities
Location
- Region: Ithaca
- Subdivision: University Hill Historic
Other
Other facts
- Listing terms: Conventional