52 Prospect Ter, Cortland, NY

House

For Sale

Listed price in listed location currency (USD).

$1,795,000

3182

MLS® S1691033

Overview

Key Facts

Type Multi Family

Levels Residential

Size 10336 sqft

Garage Yes

Taxes $28,200

Days Active 36

Lot Size 0.4854 Acres

Approx. Age 1930

Avg. Price Per Sqft $173

MLS® Number S1691033

Property Address: 52 Prospect Ter, Cortland, NY, 13045-2557

Average square foot calculated using Size range provided by listing agent.

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.

MLS® NumberS1691033

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

GarageYes

Approx. Age1930

BasementFull

DrivewayGarage, Parking Available

Garage Spaces

HeatElectric, Gas, Baseboard, Radiators

A/C

Extras

Map

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