* * Now offered at an actual 12% cap rate!! * * This charming Lansing multifamily has been fully renovated and optimized for short- and mid-term rental, and had a gross income of $126,708 in 2025. This STR operation is entirely turnkey, from listings to advertising to management and cleaning. Guests love the proximity to Myer's Park and the convenience of shopping and restaurants. The main unit has a fireplace, bright and airy layout, a fully updated kitchen with bar seating and open dining area, and covered raised deck. The lower unit has a second luxurious fireplace, a walkout covered patio, truly open kitchen and living space, and cozy bedrooms. Both units are furnished down to the silverware in mid-century modern style, with custom lighting and fixtures. The house is a legal three-unit, but is currently utilizing two. Contact agent for OM and financial information- this one is performing at an actual 12% cap rate!
Multi-familyProperty Type
1966Year Built
0.77 acresLot Size
$212Price/Sq.Ft.
1 car garageParking
Listing by Stephanie Jacobson• Yaman Commercial Industrial
The intent of the R2 District is to designate areas where the expected and desired use of land is a mixture of varied types of residential development at a somewhat higher development density. Typically, such areas will have public water service available but may encounter sewage disposal problems. Regulations and standards should relate to the efficient subdivision of land in anticipation of future public sewage disposal service and the creation of an efficient pattern of roadways in accordance with the objectives of the Comprehensive Plan.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
2/10 Heat Factor
7 days above 96° expected this year, 15 days in 30 years
2/10 Wind Factor
1% chance of strong winds in next 30 years
2/10 Air Factor
0 unhealthy days expected this year, 1 days in 30 years
Provided by First Street
Historical weather
Lansing, NY • 14882
Average low and high temperatures (°F)
28
17
31
18
49
30
58
38
64
47
77
59
82
64
77
58
74
53
61
42
48
34
35
22
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
94/ 100
Exceptional sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10.7 hrs
6.3 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 163 Ridge Rd
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $350,000 and $625,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $350K to $625K.