Lynda J. Macdonald

52 Prospect, Cortland, NY 13045

New - 29 Hours Ago
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Property Description

Welcome to 52 Prospect Terrace, a rare investment opportunity located directly across the street from SUNY Cortland. This high-density student housing asset consists of four rental units totaling 31 bedrooms and 8 bathrooms, offering exceptional income-producing potential in one of the area's most desirable student housing locations. The property features four spacious units configured as follows: one 5-bedroom, 2-bath unit; one 8-bedroom, 2-bath unit; one 10-bedroom, 3-bath unit; and one 8-bedroom, 2-bath unit. The group leasing structure has proven highly effective, supporting strong occupancy and consistent rental demand year after year. Positioned just a 30-second walk from campus, students enjoy unparalleled convenience, making this one of the premier off-campus housing options available. Its unmatched location directly adjacent to SUNY Cortland has contributed to a long and successful operating history with reliable rental income and steady tenant demand. The asset offers investors a unique opportunity to acquire a large-scale student housing property in a market with limited comparable inventory and significant barriers to new development. Combining exceptional scale, a premier location, and a proven rental history, 52 Prospect Terrace stands out as one of the most compelling student housing investment opportunities available in the SUNY Cortland market. Whether expanding an existing portfolio or acquiring a flagship income-producing asset, this property delivers the stability, demand, and long-term investment potential sought by today's investors.

52 Prospect | MLS# S1691033

This home located at 52 Prospect, Cortland, NY 13045 is currently listed for sale with an asking price of $1,795,000. This property was built in 1930 and has 31 bedrooms and 8 full baths with 10336 sq. ft. Prospect is located in the Palmer subdivision within the Cortland school district. Search Palmer real estate on lynda-macdonald.coldwellbankerprime.com today.

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Property Features

Property Type: Residential - Multiple
Basement: Full
Fireplaces: 1
Garage: 2
Heating: Electric, Gas, Baseboard, Radiators
Home Style: Fourplex
Lot Size: 0.49 Acres
Stories: 4.0
Taxes: $28,200
Year Built: 1930

Feature Descriptions

Appliances: ElectricWaterHeater
Days on Site: 1
Exterior: VinylSiding
Flooring: Hardwood, LuxuryVinyl, Varies
Lot: Rectangular, RectangularLot
Lot Dimensions: 163X129
Parcel#: 110200-086-065-0001-015-000-0000
Parking: Garage, ParkingAvailable
Parking Notes: Garage, ParkingAvailable
Sewer: Connected
Units: 4
Utilities: SewerConnected, WaterConnected
Water: Connected, Public

Local Schools

School District: Cortland

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Estimated Payment

$ 6,868.43 per month $3,994.89 Principal & Interest $2,350.00 Property Tax $523.54 Homeowner's Insurance

Change Payment Information

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yearly (est.)
(Payments are an estimate and may vary by lender)

Demographics

Listed By / Shown By

Listing By

Agency Name: Hage Real Estate
Agency Contact: 607.283.6200

Shown By

Agent Name: Lynda J. Macdonald
Agent Phone: (518) 421-2016 Cell
Agency Title: Coldwell Banker Prime Properties

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