About 163 Ridge Road
**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!
Features of 163 Ridge Road
| MLS® # | S1677371 |
|---|---|
| Price | $599,000 |
| Bedrooms | 6 |
| Bathrooms | 4.00 |
| Full Baths | 4 |
| Square Footage | 2,832 |
| Square Footage | 33541 |
| Acres | 0.77 |
| Year Built | 1966 |
| Type | Residential |
| Sub-Type | Multi Family |
| Style | Triplex |
| Status | Active |
Community Information
| Address | 163 Ridge Road |
|---|---|
| Area | Lansing |
| Subdivision | Ridge Road Sec 35 |
| City | Lansing |
| County | Tompkins |
| State | NY |
| Zip Code | 14882 |
Amenities
| Utilities | Cable Available, High Speed Internet Available, All Utilities |
|---|---|
| Features | Irregular Lot, Other, See Remarks |
| Parking | Garage, Gravel, Paved, Two or More Spaces |
| # of Garages | 1 |
| Garages | Garage, Gravel, Paved, Two or More Spaces |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Hardwood, Laminate, Tile, Varies |
|---|---|
| Interior Features | Sliding Glass Door(s), Sauna |
| Appliances | Gas Water Heater |
| Heating | Ductless, Gas, Baseboard, Hot Water |
| Cooling | Ductless |
| Fireplace | Yes |
| # of Fireplaces | 2 |
| # of Stories | 2 |
| Stories | 2 |
| Has Basement | No |
Exterior
| Exterior | Frame, Vinyl Siding |
|---|---|
| Exterior Features | Balcony, Deck, Patio, Private Yard, See Remarks |
| Lot Description | Irregular Lot, Other, See Remarks |
| Roof | Asphalt, Metal |
| Construction | Frame, Vinyl Siding |
| Foundation | Poured, Slab |
School Information
| District | Lansing |
|---|
Additional Information
| Short Sale | No |
|---|---|
| RE / Bank Owned | No |
Listing Details
| Office | Yaman Commercial Industrial |
|---|---|
| Contact Info | 607.753.9644 |