Located in the heart of Collegetown, 505 Dryden Road is a premier multi-family residence perfectly positioned for students and professionals. This high-performing asset features multiple rental units and sits on a generous lot with eight coveted off-street parking spaces. Investors will appreciate the property's exceptional track record, boasting consistent 100% occupancy and steadily increasing gross revenues. Its prime location offers unrivaled safety and convenience, providing tenants with seamless access to the Cornell University campus, local amenities, and public transit. This is a rare opportunity to acquire a turnkey, profitable building in Ithaca’s most desirable rental market.
Multi-familyProperty Type
1900Year Built
871 sq ftLot Size
$232Price/Sq.Ft.
Listing by David Wahl• Warren Real Estate of Ithaca Inc. (Downtown)
Belle Sherman, located between Cornell University’s North Campus and the East Hill Plaza area, is a residential and academic-adjacent Ithaca neighborhood with tree-lined streets and classic early-20th-century homes. The neighborhood’s energy concentrates along the Stewart Avenue–East State Street corridor, where campus-bound foot traffic meets a steady rhythm of local storefronts. Architectural character leans Craftsman and Colonial Revival, with deep porches, mature maples, and compact side streets that feel quietly continuous. Community pillars include the Cornell Botanic Gardens for wooded walks, the Herbert F. Johnson Museum of Art for gallery time, and the historic Cornell Cinema for repertory screenings. Cascadilla Gorge’s stone steps and bridges add a dramatic natural edge to daily routes. A short climb toward East Hill brings everyday errands into view without changing the neighborhood’s calm cadence.
Provided by Walk Score and Local Logic
Market insights
505 Dryden Rd · $1,000,000
DAYS ON MARKET
153 days
The average home goes pending in 62 days.
SALE-TO-LIST
97.5%
Most homes are selling 3% below list price.
LIST PRICE
$1,000,000
Median list price in this area is $404,000. (60% lower than this home)
PRICE DROP
0 price drops
24% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Natural woodwork
Furnished
Bedrooms
Three units with 4 bedrooms (two units) and 3 bedrooms (one unit)
Bathrooms
Three full bathrooms (total)
Kitchen
Each unit includes dishwasher, oven/range, refrigerator, microwave
Dining area connected to kitchen; some units have dining area with living room
Laundry & utility
Gas water heater
Flooring
Hardwood
Laminate
Vinyl
Varies
Heating & cooling
Zoned cooling
Zoned heating
Baseboard heating
Hot water heating
Natural gas heating
Exterior features
Near public transit
Rectangular lot
City street frontage
Public maintained road
Home design
Residential multi-family property
Four stories total
Parking
Other parking (see remarks)
Construction
Wood siding
Stone foundation
Asphalt roof
Built with a full, partially finished basement
Utilities
Public water
Sewer connected
Water connected
Cable available
Electric with circuit breakers
Financial info
Property configured as multiple rentable units with reported rents: two 4-bed units at $3,295 and $3,500, and one 3-bed unit at $2,850
Electricity and solar
View estimated energy costs and solar savings for this home