$390,000
$5K PRICE DROP

2900 Gerry Ellington Rd Gerry, NY 14740

Estimated payment $2,765/month

Total Views 45,916
6 Beds
-- Bath
5,940 Sq Ft
$66 Price per Sq Ft

Highlights

  • Ceramic Tile Flooring
  • Coin Laundry
  • Rectangular Lot
  • Baseboard Heating

About This Home

Exceptional Multifamily Investment – 7.9% Cap Rate Turnkey multifamily property offering a strong 7.9% cap rate and immediate cash flow. This well-maintained asset provides stable income with solid fundamentals, making it an excellent addition to any investor’s portfolio. The property features multiple units with strong occupancy and consistent rental history. Units are well-kept with functional layouts that appeal to long-term tenants. Located in a desirable rental corridor near major employers, transportation, shopping, and everyday amenities, this property benefits from steady tenant demand and long-term appreciation potential. Investment Highlights:
• 7.9% cap rate
• Stable tenant base
• Strong rental history
• Efficient operating expenses
• Potential for rental upside Ideal for both seasoned investors and those looking to expand their multifamily holdings with a cash-flowing asset in a high-demand area. Contact for full financial package, rent roll, and expense breakdown.

Listing Agent

Heather Chase

Listing by ERA Team VP Real Estate Brokerage Phone: (724) 553-6051 License #10401326246 Listed on: 11/22/2025

Co-Listing Agent

Jennifer Burkhart

Listing by ERA Team VP Real Estate Brokerage Phone: (724) 553-6051 License #10301213611

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,168

Year Built

  • Built in 1960

Lot Details

  • 26,136 Sq Ft Lot
  • Lot Dimensions are 99x264
  • Rectangular Lot

Interior Spaces

  • 6 Bedrooms
  • 5,940 Sq Ft Home
  • 2-Story Property
  • Partial Basement

Kitchen

  • Gas Oven
  • Gas Range

Flooring

  • Carpet
  • Laminate
  • Ceramic Tile

Laundry

  • Dryer
  • Washer

Parking

  • No Garage
  • Driveway

Utilities

  • Heating System Uses Gas
  • Baseboard Heating
  • Hot Water Heating System
  • Well
  • Gas Water Heater
  • Septic Tank

Listing and Financial Details

  • Tax Lot 43
  • Assessor Parcel Number 064489-302-018-0001-043-002

Community Details

Building Details

  • Operating Expense $20,000
  • Gross Income $60,000

Additional Features

  • 6 Units
  • Coin Laundry

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,168

Year Built

Built in 1960

Lot Details

0.6 Acres

Listing Details

  • Property Sub Type: Commercial
  • Property Type: Multi Family
  • Rent Includes: All Utilities
  • Year Built: 1960
  • Attribution Contact: (724) 553-6051
  • ResoLaundryFeatures: Coin-operated
  • Lot Features: Rectangular, Rectangular Lot, Residential Lot
  • Road Frontage Type: City Street
  • Co List Office Mls Id: C45
  • Co List Office Phone: 716-413-0200
  • 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: Dryer, Gas Oven, Gas Range, Gas Water Heater, Refrigerator, Washer
  • Basement: Partial
  • Basement YN: Yes
  • Total Bedrooms: 6
  • Stories: 2
  • Stories: 2

Exterior Features

  • Acres: 0.6
  • Waterfront: No
  • Construction Type: Block, Concrete
  • Exterior Features: Blacktop Driveway

Garage/Parking

  • Parking Features: One and One Half Spaces, Driveway, No Garage

Utilities

  • Heating: Gas, Baseboard, Hot Water
  • HeatingYN: Yes
  • Water Source: Well

Condo/Co-op/Association

  • Community Features: Laundry Facilities
  • Senior Community: No

Schools

  • Junior High Dist: Cassadaga Valley

Lot Info

  • Parcel Number: 064489-302-018-0001-043-002
  • Lot Dimensions: 99X264
  • Lot Size Sq Ft: 26136.0
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 6
  • Annual Gross Income: 60000.0
  • Annual Operating Expense: 20000.0

Tax Info

  • Tax Annual Amount: 8168.0
  • Tax Lot: 43

Map

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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 $261 $5,000 $5,000 $0
2023 $172 $5,000 $5,000 $0
2022 $172 $5,000 $5,000 $0
2021 $174 $5,000 $5,000 $0
2020 $174 $5,000 $5,000 $0
2019 -- $5,000 $5,000 $0
2018 -- $5,000 $5,000 $0
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/13/2026 02/13/26 Price Changed $390,000 -1.3% $66 / Sq Ft
11/22/2025 11/22/25 For Sale $395,000 -- $66 / Sq Ft
Source: Chautauqua-Cattaraugus Board of REALTORS®

About the Listing Agent

Heather Chase

Listing by ERA Team VP Real Estate

(716) 402-7618

Section Image

As a top-producing realtor with over 20 years of experience in the real estate industry, I have a proven track record of success in helping clients achieve their real estate goals. My commitment to excellence and deep understanding of the market have earned me recognition as one of the leading agents in both the McKean County, PA and Chautauqua County, NY markets.
I am passionate about helping clients find their dream homes and navigate the complex property market. My approach centers on

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Source: Chautauqua-Cattaraugus Board of REALTORS®

MLS Number: R1648651

Chautauqua-Cattaraugus Board of REALTORS®

APN: 064489 302.18-1-43.1

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