$118,000
SOLD FEB 7, 2014

2724 Route 16 N Olean, NY 14760

-- Bed
-- Bath
5,778 Sq Ft
0.58 Acres

Recently Sold

$20 Per Sq Ft

11% Below List Price

307 Days on Market

Highlights

  • Corner Lot
  • Ceramic Tile Flooring
  • Laundry Facilities
  • Furnished
  • Baseboard Heating
  • Wood Siding

About This Home

As of February 2014

ATTENTION INVESTORS! THE CHANCE IS HERE TO REAP THE REWARDS OF EXTRA REVENUE FOR YOURSELF! GOOD TENANT RECORD FOR THIS MOTEL CONVERTED TO APT BUILDING IN A GREAT QUIET LOCATION JUST MINUTES TO OLEAN. IDEAL FOR INDIVIDUALS ON A BUDGET BECAUSE UTILITIES ARE INCLUDED. BRING ALL OFFERS! NEW ROOF AND HEATING SYSTEM JUST 2 YEARS OLD. OWNER WILL FURNISH PROFIT AND EXPENDITURES FOR SERIOUS BUYERS. LAUNDRY ON SITE AND PLENTY OF PARKING

Last Agent to Sell the Property

William Shuler

Listing by No Office Affiliation License #40SH0772254 Listed on: 09/21/2012

Co-Listed By

Rebecca Pettit

Listing by Homestar Realty License #40PE1006563

Last Buyer's Agent

Joseph Chamberlain

Listing by No Office Affiliation License #10301220925

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,941

Year Built

  • Built in 1965

Lot Details

  • 0.58 Acre Lot
  • Lot Dimensions are 124x205
  • Corner Lot

Home Design

  • Slab Foundation
  • Wood Siding

Interior Spaces

  • 5,778 Sq Ft Home
  • 2-Story Property
  • Furnished
  • Washer

Kitchen

  • <<OvenToken>>
  • Free-Standing Range
  • <<microwave>>

Flooring

  • Carpet
  • Laminate
  • Ceramic Tile

Parking

  • 1 Parking Space
  • No Garage
  • Driveway

Utilities

  • Baseboard Heating
  • Well
  • Oil Water Heater
  • Septic Tank

Listing and Financial Details

  • Rent includes all utilities, common area maintenance, electricity, heat, snow removal, trash collection, cable TV, water
  • Assessor Parcel Number 046600-085-019-0001-028-000-0000

Community Details

Building Details

  • Operating Expense $26,290
  • Gross Income $72,480

Additional Features

  • 10 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,941

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Property Sub Type: Commercial
  • Property Type: Multi Family
  • Rent Includes: All Utilities, Common Area Maintenance, Electricity, Heat, Snow Removal, Trash Collection, Cable TV, Water
  • Year Built: 1965
  • ResoLaundryFeatures: Common Area, Washer Hookup
  • Lot Features: Corner Lot
  • Road Frontage Type: Main Thoroughfare
  • Co List Office Mls Id: STAR03
  • Co List Office Phone: (585) 968-8444
  • Directions: Route 16 N from Olean, property on right-see ERA signs
  • Flooring: Carpet, Ceramic Tile, Laminate, Varies
  • Garage Yn: No
  • Unit Levels: Two
  • Year Built Details: Existing
  • Property Sub Type Additional: Commercial
  • Special Features: None

Interior Features

  • Appliances: Free-Standing Range, Microwave, Oven, Oil Water Heater, Refrigerator, Washer
  • Stories: 2
  • Stories: 2

Exterior Features

  • Acres: 0.58
  • Waterfront: No
  • Construction Type: Block, Concrete, Wood Siding
  • Exterior Features: Blacktop Driveway
  • Foundation Details: Slab

Garage/Parking

  • Parking Features: One Space, No Garage

Utilities

  • Heating: Oil, Baseboard
  • HeatingYN: Yes
  • Water Source: Well

Condo/Co-op/Association

  • Senior Community: No

Schools

  • Junior High Dist: Hinsdale
  • Middle Or Junior School: Other - See Remarks

Lot Info

  • Parcel Number: 046600-085-019-0001-028-000-0000
  • Lot Dimensions: 124X205
  • ResoLotSizeUnits: Acres
  • ResoLotSizeUnits: Acres

Rental Info

  • Furnished: Furnished

Multi Family

  • Number Of Units Total: 10
  • Annual Gross Income: 72480.0
  • Annual Operating Expense: 26290.0
  • Number Of Separate Electric Meters: 2

Tax Info

  • Tax Annual Amount: 5941.0

MLS Schools

  • Elementary School: Other - See Remarks

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/20/2017 12/20/17 Rented $570 0.0% --
01/26/2017 01/26/17 For Rent $570 0.0% --
02/07/2014 02/07/14 Sold $118,000 -10.6% $20 / Sq Ft
07/25/2013 07/25/13 Pending -- -- --
09/21/2012 09/21/12 For Sale $132,000 -- $23 / Sq Ft
Source: Western New York Real Estate Information Services (WNYREIS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2017

    Joseph Chamberlain

    No Office Affiliation

    Section Image

  • W

    Seller's Agent in 2014

    William Shuler

    No Office Affiliation

  • Rebecca Pettit

    Seller Co-Listing Agent in 2014

    Rebecca Pettit

    Homestar Realty

    (716) 244-7309

    165 Total Sales

    Rebecca Pettit
    Section Image
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Map

Source: Western New York Real Estate Information Services (WNYREIS)

MLS Number: B416885

Western New York Real Estate Information Services (WNYREIS)

New York Cattaraugus County Olean 14760

2724 Route 16 N, Olean, NY

This home is located at 2724 Route 16 N, Olean, NY 14760 and is currently priced at $118,000, approximately $20 per square foot. This property was built in 1965. 2724 Route 16 N is a home located in Cattaraugus County with nearby schools including Hinsdale Central School and New Life Christian School.

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