$1,150,000

Positioned in the absolute heart of Cornell University's Collegetown, 204-206 Linden Avenue represents a rare blend of immediate income, irreplaceable location, and long-term redevelopment upside. This side-by-side duplex offers investors and developers a strategic foothold in one of Ithaca's most supply-constrained and consistently high-demand submarkets. The existing improvements consist of two well-configured three-bedroom, one-bath residential units, each benefiting from a functional layout that aligns perfectly with the Collegetown rental market. The property is fully leased for the 2025-2026 academic year, providing secure, predictable cash flow from day one. What truly distinguishes 204-206 Linden Avenue, however, is its City of Ithaca CR-4 zoning, which allows for redevelopment of up to four stories of apartments. This zoning classification places the property squarely within the city's highest-intensity residential corridor, where increased density is not only permitted but actively encouraged as part of Ithaca's long-term housing and planning goals. Collegetown remains Ithaca's most proven micro-market for multifamily investment. Its proximity to Cornell's academic core, research facilities, retail, dining, and transit infrastructure makes it a perennial favorite for tenants and investors alike.