Active

112 Groton Avenue

Cortland, NY 13045

$2,950,000 $12,437/Mo

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Overview

Bed

Bath

11,520

Sqft

1.16

Acres(Lot)

Description

Welcome to 112 Groton Avenue, Cortland, NY. Exceptional opportunity to acquire a well-maintained 14-unit investment property in a prime location just a short distance from SUNY Cortland and the shops, restaurants, and amenities of downtown Cortland. This professionally managed student housing portfolio offers a total of 42 bedrooms with potential to expand to 44 bedrooms, making it an attractive addition to an investor's portfolio. The centerpiece of the property is a 10-unit building constructed in 2009, featuring ten spacious three-bedroom apartments. Each unit offers a functional floor plan with large living rooms, eat-in kitchens with dining areas, generously sized bedrooms, and full bathrooms equipped with double-sink vanities. Built-in closet shelving systems provide added convenienc e and storage throughout. Complementing the main building are two additional structures built between 2014 and 2015. One is a side-by-side duplex, each unit offering three bedrooms, one and a half bathrooms, expansive living spaces, kitchens with breakfast bars and dining areas, and first-floor half baths with bedrooms and full baths located on the second level. The third building consists of two additional three-bedroom units and includes a dedicated rental office, storage space, and a garage with overhead door ideal for maintenance equipment and property operations. Tenants benefit from five common laundry areas equipped with coin-operated machines, all of which are included in the sale. The property also features 42 on-site parking spaces with ample lighting and maintained striping, providing convenience and security for residents. With a cap rate exceeding 7%, a strong rental history, and a turnkey operational setup, this income-producing asset presents an excellent opportunity for investors seeking stable cash flow and long-term growth. The property may also be an ideal candidate for buyers looking to complete a 1031 exchange and acquire a high-quality, fully established investment property in one of Cortland's most desirable rental locations.

Property Details

Property Type : Residential Income

Price : $2,950,000

AD Id : 80012602

MLS Id : S1686697

Beds : 42

Lot Size : 1.16 Acres

Living Area Size : 11,520

Year Built : 2009

Garage : 1

County : Cortland

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 42

Room Information

Has Basement: Yes Basement: Exterior Entry, Partial, Walk-Up Access
Flooring Information

Carpet, Ceramic Tile, Varies, Vinyl
Roofing Information

Asphalt, Shingle
Interior Features

Ceiling Fan(s), Storage Roof: Asphalt, Shingle Appliances: Exhaust Fan, Electric Oven, Electric Range, Gas Water Heater, Microwave, Refrigerator, Range Hood Laundry Features: Common Area
Heating & Cooling

Has Heating: Yes Heating: Natural Gas, Exhaust Fan, Hot Water, Radiant Has Cooling: Yes Cooling: Ceiling Fan(s)

Building Information

Year Built: 2009 Building Area Total: 11520 Construction Materials: Frame, Vinyl Siding Stories: 2 Patio And Porch Features: Deck, Porch Private Pool: No

Lot Information

Lot Dimensions: 175X136 Main Square Feet: 1.16 Acres Lot Size Acres: 1.16 Lot Size Square Feet: 50530 Lot Description: Rectangular Lot

Listing Price Information

Listing Price: $2950000 Cash

Tax Information

Parcel Number: 110200-086-049-0004-050-000-0000 Tax Lot: 50 Annual Tax: $46182

Virtual Tour

Virtual Tour (External Link)

Parking Information

Driveway, Garage

Garage Information

Has Garage: Yes Garage Space: 1

Utility Information

Cable Available, Sewer Connected, Water Connected
Location Information

Direction: From I-81, Clinton Ave to Groton Ave, property is on your right. WaterSource: Public

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
37 Sunnyfield Drive, Cortland, NY, 13045	$196,000	3	1	1,289	1,289 SqFt
8 Parkwood Circle, Cortland, NY, 13045	$279,900	4	2	1,700	1,700 SqFt
36 Fox Hollow Road, Cortland, NY, 13045	$149,900	3	2	1,183	1,183 SqFt
98 E Court Street, Cortland, NY, 13045	$157,900	3	2	1,410	1,410 SqFt
164 Central Avenue, Cortland, NY, 13045	$175,000	3	2	1,656	1,656 SqFt
32 Cedar Street, Cortland, NY, 13045	$174,900	3	2	1,176	1,176 SqFt
32 N Church Street, Cortland, NY, 13045	$249,900	4	2	2,102	2,102 SqFt
20 & 20.5 Charles Street, Cortland, NY, 13045	$249,000	2	--	5,652	5,652 SqFt
7 Reynolds Avenue, Cortland, NY, 13045	$499,900	6	7	4,732	4,732 SqFt
10 Pearne Avenue, Cortland, NY, 13045	$229,900	4	2	2,604	2,604 SqFt

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ByOwner last updated this listing 06/16/2026 @ 04:12

MLS: S1686697 LISTED BY: Dana Decker, Berkshire Hathaway HomeServices Heritage Realty 607-428-0708 SOURCE: Central New York Information Services