NOT LISTED FOR SALE

521 2nd Ave Olean, NY 14760

-- Bed
-- Bath
3,202 Sq Ft
6,500 Sq Ft Lot

Last Sold September 14, 2020

Last sale price $80,000 $25 Per Sq Ft

72 Days on Market

Highlights

  • Forced Air Cooling System
  • High Speed Internet
  • Wall to Wall Carpet
  • Ceiling Fan

About This Home

As of September 2020

High-income four-unit rental property. All separate utilities that the tenants pay for. 12%+ cap rate (~$1,200 in insurance, vacancy expense of 10%, operating expense of 10%, and taxes. The units are well taken care of and feature newer systems. Due to the Coronavirus outbreak, showings will not be allowed. Attempts at virtual showings are not guaranteed.

Last Agent to Sell the Property

Paul Pezzimenti

Listing by Howard Hanna Professionals - Olean License #10301214758 Listed on: 04/08/2020

Howard Hanna Professionals - Olean

Last Buyer's Agent

Paul Pezzimenti

Listing by Howard Hanna Professionals - Olean License #10301214758 Listed on: 04/08/2020

Howard Hanna Professionals - Olean

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1910

Lot Details

  • 6,500 Sq Ft Lot
  • Lot Dimensions are 130 x 50

Parking

  • Stone Driveway

Home Design

  • Asphalt Roof
  • Vinyl Construction Material

Interior Spaces

  • 3,202 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Basement Fills Entire Space Under The House
  • Scuttle Attic Hole

Flooring

  • Wall to Wall Carpet
  • Laminate

Schools

  • East View Elementary School
  • Olean Middle School
  • Olean Senior High School

Utilities

  • Forced Air Cooling System
  • Multiple Heating Units
  • Heating System Uses Gas
  • Gas Water Heater
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

  • Rent includes lawn maintenance, no utilities
  • Tax Lot 31
  • Assessor Parcel Number 041200-094-050-0001-031-000-0000

Community Details

Overview

  • 4 Units

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters

Property Details

Home Type

Multi-Family

Year Built

Built in 1910

Lot Details

0

Listing Details

  • NY Swis Code: Olean-City-041200
  • Total Assessed Value: 90000
  • Listing Type: Exclusive Right To Sell
  • Lot Dimension Depth: 130
  • Lot Dimension Front: 50
  • Lot Information: Neighborhood Street
  • Lot Number: 31
  • Nearest Cross Street: Genesee St
  • Number of Stories: 2.0000
  • Property Type: Multi-Family Res (2-4) units
  • Ratio Close Price By Acres: 536193.03
  • Ratio Close Price By Sq Ft: 24.98
  • Ratio List Price By Acres: 737265.42
  • Ratio List Price By Sq Ft: 34.35
  • Regional Board Code: Rochester
  • Rent Includes: Lawn Maintenance, No Utilities
  • Roof Description: Asphalt
  • School Tax: 2367
  • Sub Board Code: Chautauqua-Cattaraugus
  • Type of Residence: 4 Unit
  • Type of Sale: Normal
  • Year Built Description: Existing
  • Lot Sq Ft: 6500
  • Age of Building: 112
  • Year Built: 1910
  • Directions To Property: From Route 16, turn onto Front St, turn onto Second Ave, the property is on the left
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2
  • Year Built: 1910

Interior Features

  • Additional Interior Features: Ceiling Fan, Circuit Breakers - Some
  • Attic Description: Scuttle Access
  • Basement Description: Full
  • Floor Description: Laminate-Some, Wall To Wall Carpet-Some
  • Total Sq Ft: 3202

Exterior Features

  • Construction: Vinyl
  • Additional Exterior Features: Cable TV Available, High Speed Internet
  • Number of Acres: 0.1492

Garage/Parking

  • Number of Electric Meters: 4
  • Parking Driveway: 2 or More Spaces, Stone/Gravel

Utilities

  • Heating Fuel Description: Gas
  • Hvac Type: Forced Air
  • Number of Gas Meters: 4
  • Number of Heating Units: 4
  • Sewer Description: Sewer Connected
  • Water Heater Fuel: Gas

Lot Info

  • Parcel Number: 041200-094-050-0001-031-000-0000

Rental Info

  • Certificate of Occupancy: Supplied

Multi Family

  • Total Number Of Apartments: 4

Tax Info

  • Total Taxes: 4910

MLS Schools

  • Elementary School Name: East View Elementary
  • High School Name: Olean Senior High
  • Middle School Name: Olean Middle
  • School District Name: Olean

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 List to Sale Price per Sq Ft Prior Sale
09/14/2020 09/14/20 Sold $80,000 -27.3% $25 / Sq Ft
06/19/2020 06/19/20 Pending -- -- --
05/20/2020 05/20/20 Price Changed $110,000 -21.4% $34 / Sq Ft
04/08/2020 04/08/20 For Sale $139,900 +64.6% $44 / Sq Ft
10/05/2015 10/05/15 Sold $85,000 -32.0% $27 / Sq Ft View Prior Sale
08/01/2015 08/01/15 Pending -- -- --
01/21/2014 01/21/14 For Sale $125,000 -- $39 / Sq Ft
Source: Chautauqua-Cattaraugus Board of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Paul Pezzimenti

    Seller's Agent in 2020

    Paul Pezzimenti

    Howard Hanna

    (716) 378-7039

    193 in this area

    331 Total Sales

    Paul Pezzimenti
    Section Image

  • J

    Seller's Agent in 2015

    Joseph Chamberlain

    No Office Affiliation

    Section Image
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Map

Source: Chautauqua-Cattaraugus Board of REALTORS®

MLS Number: R1259806

Chautauqua-Cattaraugus Board of REALTORS®
New York Cattaraugus County Olean 14760

521 2nd Ave, Olean, NY

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