327 Coddington Rd

Ithaca, NY 14850

What if your next home came with three income-producing units to help pay the mortgage?

Perched above the City of Ithaca with sweeping views, this rare four-unit property offers the opportunity to build equity while generating income from day one. Featuring two separate buildings, four rental units, and a coveted South Hill location just minutes from Ithaca College, 327 Coddington Road is as compelling as it is uncommon.

Whether you are looking to secure a high-yield asset for your portfolio or execute the ultimate "house-hack" where your tenants cover your living expenses, this multi-structure setup stands ready to deliver. Live in the beautifully appointed first-floor residence while rental income helps offset—or potentially cover—your mortgage, or lease all four units to maximize your return.

The owner's unit feels more like a private home than an apartment, featuring a spacious kitchen with maple cabinetry, granite countertops, and a breakfast bar, an inviting living room centered around a classic brick fireplace, a sun-filled bonus room perfect for a home office or reading nook, and direct access to an expansive covered patio overlooking the picturesque Finger Lakes landscape.

The property includes three units within the main house along with a detached two-story bungalow, creating four distinct income opportunities. Two tenants are secured through July 2027, providing dependable long-term income, while the first-floor unit and lower-level apartment offer immediate flexibility for an owner-occupant or an investor looking to lease at current market rates.
Rents are structured to include heat, water, sewer, and trash removal, providing a simple, attractive package for tenants.

This property is being sold As-Is, eliminating negotiation friction and accelerating your path to closing. To make your transaction seamless, professional home inspections and radon tests have already been completed for both structures. The reports are fully transparent and available for review, allowing you to bypass the usual multi-week inspection delays and secure your financing with total clarity.

With two units leased through July 2027, your baseline revenue is guaranteed from day one.

Investment opportunities with four rental units, two separate dwellings, panoramic Ithaca views, and a premier South Hill location are exceptionally rare. Whether you're building long-term wealth, expanding your portfolio, or searching for a home that helps pay for itself, 327 Coddington Road is an opportunity worth seeing.

Main house 1st floor - $1300/month leaving upon sale
Main house 2nd floor - $1550/month (july 2027)
Main house Basement ~ Potential at $1200/month
Bungalow - $1300/month (July 2027)

$5350x12 = $64,200/Yr Gross