$64,900
$534K PRICE DROP

217 King St Olean, NY 14760

Estimated payment $502/month

Total Views 20,368
5 Beds
2 Baths
2,196 Sq Ft
$30 Price per Sq Ft

Highlights

  • Wood Flooring
  • Forced Air Heating System
  • Rectangular Lot

About This Home

Seize this incredible opportunity to acquire a well-maintained, income-generating real estate portfolio in Olean, NY. This package includes five properties consisting of a mix of multi-family homes, totaling 11 rental units. With a strong rental history and consistent cash flow, this portfolio is perfect for both seasoned investors looking to expand their holdings and newcomers seeking a solid, diversified entry into the market.

Included in this portfolio are 201 N 18th St (3-unit), 206 S 13th St (2-unit), 753-755 Garden Ave (2-unit), 125 N 3rd St (2-unit), and 217 King St (2-unit). These properties are located in strong rental demand areas, ensuring a steady stream of income. With a combination of multi-family units, this portfolio offers a diverse investment strategy, reducing risk while maximizing potential returns.

Priced at $440,000, this investment presents a great cap rate opportunity with room for increased cash flow through strategic management. The Olean rental market remains strong and stable, making this an attractive long-term investment. Don’t miss out on this turnkey portfolio

Listing Agent

Regis Handley

Listing by Howard Hanna Professionals - Olean Brokerage Phone: 716-307-9256 License #10301215129 Listed on: 03/13/2025

Howard Hanna Professionals - Olean

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,872

Year Built

  • Built in 1895

Lot Details

  • 8,400 Sq Ft Lot
  • Lot Dimensions are 70x120
  • Rectangular Lot

Parking

  • Paved Parking

Home Design

  • Siding

Interior Spaces

  • 2,196 Sq Ft Home
  • 2-Story Property
  • Wood Flooring
  • Basement Fills Entire Space Under The House

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 2 Full Bathrooms

Utilities

  • Forced Air Heating System
  • Heating System Uses Gas
  • Gas Water Heater

Community Details

  • 2 Units
  • 2 Separate Gas Meters

Listing and Financial Details

  • Tax Lot 10
  • Assessor Parcel Number 041200-094-067-0007-010-000-0000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,872

Year Built

Built in 1895

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Property Type: Residential
  • Rent Includes: Water
  • Year Built: 1895
  • Attribution Contact: 716-307-9256
  • Lot Features: Rectangular, Rectangular Lot, Residential Lot
  • Road Frontage Type: City Street
  • Flooring: Hardwood, Varies
  • Unit Levels: Two
  • Year Built Details: Existing
  • Special Features: None

Interior Features

  • Appliances: Gas Water Heater
  • Basement: Full
  • Basement YN: Yes
  • Full Bathrooms: 2
  • Total Bedrooms: 5
  • Stories: 2
  • Stories: 2

Exterior Features

  • Acres: 0.1928
  • Waterfront: No
  • Construction Type: Composite Siding

Garage/Parking

  • Parking Features: Paved

Utilities

  • Heating: Gas, Forced Air
  • HeatingYN: Yes
  • Utilities: Sewer Connected, Water Connected
  • Water Source: Connected, Public

Condo/Co-op/Association

  • Senior Community: No

Schools

  • Junior High Dist: Olean

Lot Info

  • Parcel Number: 041200-094-067-0007-010-000-0000
  • Lot Dimensions: 70X120
  • Lot Size Sq Ft: 8400.0
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units In Community: 2
  • Number Of Units Total: 2
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2

Tax Info

  • Tax Annual Amount: 1872.0
  • Tax Lot: 10

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $1,321 $35,000 $5,800 $29,200
2023 $1,318 $35,000 $5,800 $29,200
2022 $1,337 $35,000 $5,800 $29,200
2021 $1,375 $35,000 $5,800 $29,200
2020 $1,385 $35,000 $5,800 $29,200
2019 $675 $35,000 $5,800 $29,200
2018 $3,239 $35,000 $5,800 $29,200
2017 $1,419 $35,000 $5,800 $29,200
2016 $1,403 $35,000 $5,800 $29,200
2015 -- $35,000 $5,800 $29,200
2014 -- $35,000 $5,800 $29,200
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/13/2025 09/13/25 Price Changed $64,900 -86.3% $30 / Sq Ft
08/04/2025 08/04/25 Price Changed $474,000 -17.4% $216 / Sq Ft
07/15/2025 07/15/25 Price Changed $574,000 -4.2% $261 / Sq Ft
03/13/2025 03/13/25 For Sale $599,000 -- $273 / Sq Ft
Source: Chautauqua-Cattaraugus Board of REALTORS®

Mortgage History

Date Status Loan Amount Loan Type
Closed $75,000 Stand Alone Refi Refinance Of Original Loan
Source: Public Records

About the Listing Agent

Regis Handley
Regis Handley

Listing by Howard Hanna Professionals - Olean

(585) 648-1341

Section Image

With over a decade of experience in residential, commercial, and multi-family real estate across Western New York and Northern Pennsylvania, I bring deep market knowledge, strong negotiation skills, and a hands-on approach to every transaction. Whether you're buying your first home, selling an investment property, or relocating your business, I provide personalized service and clear communication every step of the way. Backed by Howard Hanna and a strong local network, I'm committed to getting

View Regis's Profile

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Source: Chautauqua-Cattaraugus Board of REALTORS®

MLS Number: R1592435

Chautauqua-Cattaraugus Board of REALTORS®

APN: 041200-094-067-0007-010-000-0000

New York Cattaraugus County Olean 14760

217 King St, Olean, NY

This home is located at 217 King St, Olean, NY 14760 and is currently priced at $64,900, approximately $29 per square foot. This property was built in 1895. 217 King St is a home located in Cattaraugus County with nearby schools including Olean Intermediate-Middle School and Olean Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Chautauqua-Cattaraugus Board of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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Regis Handley
Regis Handley
Listing Agent Section Image
Howard Hanna Professionals - Olean
(585) 648-1341