509 Five Mile DR #A & B Active Save Request In-Person Tour Request Virtual Tour
Ithaca,NY 14850
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,644 sqft
Price per Sqft $150
MLS Listing ID R1602954
Style Duplex
Bedrooms 6
Full Baths 5
Construction Status Existing
HOA Y/N No
Year Built 1900
Annual Tax Amount $7,757
Lot Size 1.790 Acres
Acres 1.79
Lot Dimensions 156X570
Property Sub-Type Duplex
Property Description
This unique property offers the perfect blend of potential and passive income. Set on a stunning 1.8-acre lot, 509 Five Mile Drive includes a main single-family residence and a legally grandfathered duplex that was once a barn.
The main house, while in need of renovation, served as a cherished home for many years and previously rented for $1,300/month. It's now ready for your vision—bring your contractor and design ideas to transform it into your dream home.
The accessory duplex provides immediate income and has a large unfished attic space. The upper unit (509A) is a bright, beautifully maintained 1-bedroom apartment renting for $960/month. Lease ends 12-31-25. The lower 1-bedroom unit (509B) features a walk-out to a covered deck and patio with tranquil views of the expansive backyard and currently rents for $970/month. Tenant is month to month.
Whether you're looking to invest or create a custom home while offsetting costs with rental income, this is a rare find in a prime location.
Location
State NY
County Tompkins
Area Ithaca-Town-503089
Direction Located right off Five Mile Drive in the town of Ithaca. Look for HH sign. Park on either side of main house.
Rooms
Basement Crawl Space,Full
Interior
Interior Features Sliding Glass Door(s)
Heating Gas,Forced Air
Flooring Ceramic Tile,Laminate,Varies
Fireplaces Number 1
Fireplace Yes
Appliance Gas Water Heater
Exterior
Exterior Feature Deck,Patio
Utilities Available High Speed Internet Available,Sewer Connected,Water Connected
Roof Type Asphalt,Metal
Porch Deck,Patio
Building
Lot Description Adjacent To Public Land,Rectangular,Rectangular Lot
Story 2
Sewer Connected
Water Connected,Public
Architectural Style Duplex
Level or Stories Two
Structure Type Frame,Wood Siding,PEX Plumbing
Construction Status Existing
Schools
Elementary Schools Cayuga Heights Elementary
Middle Schools Boynton Middle
High Schools Ithaca Senior High
School District Ithaca
Others
Senior Community No
Tax ID 503089-031-000-0002-032-000-0000
Acceptable Financing Cash,Rehab Financing
Listing Terms Cash,Rehab Financing
Special Listing Condition Standard
Virtual Tour https://unbranded.youriguide.com/509_5_mile_dr_ithaca_ny/