Estimated payment $1,114/month
Highlights
- Zoned Heating
- Carpet
- 4-minute walk to Lincoln Park
- Rectangular Lot
About This Home
This is a 5 unit apartment complex located in downtown Olean next to JCC. Zoned Commercial. 3 of the units are currently rented by long term tenants that pay on time. The 4th unit is vacant and ready to move in. The 5th unit is under construction. The Broker/Appraiser estimates the gross yearly rent to be $48,000 annually with a $28,000 Net profit. The CAP rate at full asking price is 15.8 %. 5 total units, 8 total bedrooms, 5 total bathrooms. Off Street parking. 2 minute walk to downtown Olean.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,249
Year Built
- Built in 1930
Lot Details
- 6,500 Sq Ft Lot
- Lot Dimensions are 50x130
- Rectangular Lot
Parking
- Parking Available
Home Design
- Quadruplex
- Vinyl Siding
Interior Spaces
- 2,950 Sq Ft Home
- 2-Story Property
- Crawl Space
Flooring
- Carpet
- Vinyl
Bedrooms and Bathrooms
- 8 Bedrooms
- 5 Full Bathrooms
Utilities
- Zoned Heating
- Heating System Uses Gas
- Gas Water Heater
Community Details
- 4 Units
- 5 Separate Gas Meters
Listing and Financial Details
- Assessor Parcel Number 94.065-4-18
Map
Home Values in the Area
Average Home Value in this Area
Property History
Date | Event | Price | Change | Sq Ft Price |
---|---|---|---|---|
04/21/2025 04/21/25 | Pending | -- | -- | -- |
03/05/2025 03/05/25 | Price Changed | $152,000 | -1.9% | $52 / Sq Ft |
03/03/2025 03/03/25 | Price Changed | $154,900 | -2.6% | $53 / Sq Ft |
12/18/2024 12/18/24 | Price Changed | $159,000 | -11.2% | $54 / Sq Ft |
12/04/2024 12/04/24 | Price Changed | $179,000 | -5.3% | $61 / Sq Ft |
09/03/2024 09/03/24 | For Sale | $189,000 | +293.8% | $64 / Sq Ft |
10/03/2014 10/03/14 | Sold | $48,000 | -18.6% | $21 / Sq Ft |
05/20/2014 05/20/14 | Pending | -- | -- | -- |
01/10/2014 01/10/14 | For Sale | $59,000 | -- | $26 / Sq Ft |
Source: Western New York Real Estate Information Services (WNYREIS)
MLS Number: B1562789

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