Caitlin Croft
Iconic Real Estate
(716) 221-8308
83 Total Sales
5 in Olean
$142K - $218K Price Range
2724 Nys Rte 16 N Olean-Town, NY 14760
Olean Area
1
Bed
--
Baths
5,778
Sq Ft
1965
Built
Highlights
- Corner Lot
- Laundry Facilities
- High Speed Internet
- Baseboard Heating
About This Home
As of December 2024This is a rare chance to own a 14-unit motel that’s been converted into rental apartments. Situated in a highly desirable location, this property offers investors a stable income stream with significant upside potential. It has a prime Location: Positioned near major highways, shopping centers, and dining options, making it an attractive choice for tenants seeking convenience. A spacious parking lot ensures every tenant has access to off-street parking, a rare and desirable feature. Located in an area with high rental demand and low vacancy rates. Recent updates to the property’s plumbing, electrical, and roofing systems mean minimal maintenance costs. This is not just a property, but a turnkey investment opportunity Professionally Managed with established cash flow. With the option to increase rental rates or even explore short-term rental models like Airbnb, there are multiple paths to enhancing the property’s profitability.
Last Agent to Sell the Property
Patricia Collier
Listing by No Office Affiliation Brokerage Phone: 716-307-3727 License #10401295212 Listed on: 09/21/2024
Last Buyer's Agent
Patricia Collier
Listing by No Office Affiliation Brokerage Phone: 716-307-3727 License #10401295212 Listed on: 09/21/2024
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Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,539
Year Built
- Built in 1965
Lot Details
- Lot Dimensions are 124x205
- Corner Lot
Interior Spaces
- 1 Bedroom
- 5,778 Sq Ft Home
- 2-Story Property
Kitchen
- Oven
- Free-Standing Range
- Microwave
Parking
- 1 Parking Space
- No Garage
- Shared Driveway
Schools
- Hinsdale Central High School
Utilities
- Heating System Uses Gas
- Baseboard Heating
- Hot Water Heating System
- PEX Plumbing
- Well
- Gas Water Heater
- Septic Tank
- High Speed Internet
- Cable TV Available
Community Details
- 14 Units
- Laundry Facilities
Listing and Financial Details
- Rent includes common area maintenance, electricity, heat, hot water, snow removal, trash collection, water
- Assessor Parcel Number 046600-085-019-0001-028-000-0000
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Olean-Town, NY
-
Caitlin Croft
-
Anthony Dubreville
Anthony Dubreville
Keller Williams Realty WNY
(716) 221-8737
108 Total Sales
1 in Olean
$26,000 Price
-
Jonas Willson
Jonas Willson
Genesee River Realty
(585) 648-5008
91 Total Sales
1 in Olean
$18,000 Price
-
James Klossner
James Klossner
Whitetail Properties Real Estate, LLC
(585) 627-0630
100 Total Sales
1 in Olean
$105,000 Price
-
Regis Handley
Regis Handley
Howard Hanna Professionals - Olean
(585) 378-5525
234 Total Sales
134 in Olean
$20K - $450K Price Range
-
Melanie Pritchard
Melanie Pritchard
ERA Team VP Real Estate
(716) 403-3199
161 Total Sales
5 in Olean
$173K - $400K Price Range
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $118,000 | Eric Shuels | ||
| Hurlburt Terry | $8,000 | Nicholas Dicerbo Jr. |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $88,500 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/04/2024 12/04/24 | Sold | $279,000 | 0.0% | $48 / Sq Ft |
| 09/30/2024 09/30/24 | Pending | -- | -- | -- |
| 09/21/2024 09/21/24 | For Sale | $279,000 | -- | $48 / Sq Ft |
Source: Western New York Real Estate Information Services (WNYREIS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 |
|---|---|---|---|---|
| 2025 | $3,630 | $92,040 | $8,700 | $83,340 |
| 2024 | $3,648 | $92,040 | $8,700 | $83,340 |
| 2023 | $3,475 | $92,040 | $8,700 | $83,340 |
| 2022 | $3,450 | $92,040 | $8,700 | $83,340 |
| 2021 | $3,501 | $92,040 | $8,700 | $83,340 |
| 2020 | $3,512 | $92,040 | $8,700 | $83,340 |
| 2019 | $1,142 | $92,040 | $8,700 | $83,340 |
| 2018 | $3,463 | $92,040 | $8,700 | $83,340 |
| 2017 | $3,216 | $92,040 | $8,700 | $83,340 |
| 2016 | $3,219 | $92,040 | $8,700 | $83,340 |
| 2015 | -- | $92,040 | $8,700 | $83,340 |
| 2014 | -- | $92,040 | $8,700 | $83,340 |
Source: Public Records
Agents Affiliated with this Home
-
PC
Seller's Agent in 2024
Patricia Collier
No Office Affiliation
Map
Source: Western New York Real Estate Information Services (WNYREIS)
MLS Number: B1566944
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