NOT LISTED FOR SALE

6460 Olean Rd South Wales, NY 14139

Estimated Value: $247,000 - $464,000

6 Beds
3 Baths
2,865 Sq Ft
$128/Sq Ft Est. Value

Last Sold November 24, 2021

Last sale price $375,000 $131 Per Sq Ft

Est. 2% decrease in value since last sale

Current estimated payment $2,193/month

12 Days on Market

Highlights

  • Wooded Lot
  • Ceiling Fan
  • Heating System Uses Steam
  • Forced Air Heating System
  • Hot Water Heating System
  • Wood Siding

About This Home

As of November 2021

GREAT OPPORTUNITY for first time and experienced buyers/investors alike. Two multiple unit properties on two spacious lots with ample parking in South Wales combined for 7 unit rental investment. Nice money maker. @ CAP Rate 12.5%. Owner retiring to warmer climate. Several units have been updated in past 5 yrs. Carpets cleaned per agreement every two years by tenants. No pets allowed. No smoking allowed. Relatively clean and well maintained units. Location is ideal at end of Rt 400 and have had little issues getting qualified renters during turnover. Reasonable South Wales taxes and strong rents = PROFITS. Showings will take place on Sundays ONLY between 12-3PM by appointment only. Please schedule now. Offers reviewed as they come in.

Last Agent to Sell the Property

Daniel Myers

Listing by Trank Real Estate License #10401247503 Listed on: 07/07/2021

Last Buyer's Agent

Daniel Myers

Listing by Trank Real Estate License #10401247503 Listed on: 07/07/2021

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,850

Year Built

  • Built in 1900

Lot Details

  • 1.42 Acre Lot
  • Lot Dimensions are 99x231
  • Wooded Lot

Home Design

  • Triplex
  • Stone Foundation
  • Wood Siding
  • Siding

Interior Spaces

  • 2,865 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Basement Fills Entire Space Under The House

Flooring

  • Carpet
  • Vinyl

Parking

  • Common or Shared Parking
  • Gravel Driveway

Utilities

  • Forced Air Heating System
  • Space Heater
  • Heating System Uses Gas
  • Wall Furnace
  • Hot Water Heating System
  • Heating System Uses Steam
  • Well
  • Gas Water Heater
  • Septic Tank

Listing and Financial Details

  • Rent includes common area maintenance, gardener, snow removal, trash collection, water
  • Tax Lot 18
  • Assessor Parcel Number 146600-201-160-0001-018-000

Community Details

Overview

  • 3 Units

Building Details

  • 7 Separate Gas Meters
  • Operating Expense $3,000
  • Gross Income $52,500

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,850

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Property Type: Residential
  • Rent Includes: Common Area Maintenance, Gardener, Snow Removal, Trash Collection, Water
  • Year Built: 1900
  • Lot Features: Wooded
  • Road Frontage Type: Main Thoroughfare
  • Directions: 400 to RT 16, just past 1st light on the right at end of 400, next to 7-11 gas station.
  • Architectural Style: Triplex, Fourplex
  • Flooring: Carpet, Varies, Vinyl
  • Interior Features: Ceiling Fan(s)
  • Unit Levels: Two
  • Year Built Details: Existing
  • Special Features: None

Interior Features

  • Appliances: Gas Water Heater
  • Basement: Full
  • Basement YN: Yes
  • Stories: 2
  • Stories: 2

Exterior Features

  • Acres: 1.42
  • Waterfront: No
  • Construction Type: Composite Siding, Wood Siding
  • Foundation Details: Stone

Garage/Parking

  • Parking Features: Common, Gravel, Unpaved

Utilities

  • Heating: Gas, Forced Air, Hot Water, Steam, Space Heater, Wall Furnace
  • HeatingYN: Yes
  • Water Source: Well

Schools

  • Junior High Dist: Holland

Lot Info

  • Parcel Number: 146600-201-160-0001-018-000
  • Lot Dimensions: 99X231
  • Lot Size Sq Ft: 61855.0
  • ResoLotSizeUnits: Acres
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units In Community: 3
  • Number Of Units Total: 7
  • Annual Gross Income: 52500.0
  • Annual Operating Expense: 3000.0
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7

Tax Info

  • Tax Annual Amount: 6850.0
  • Tax Lot: 18

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 7, 2021
Closed on
Oct 4, 2021
Sold by
Spink Properties Llc
Bought by
Pacific Premier Trust and Brian Fischer Ira
Seller's Agent
Daniel Myers
Trank Real Estate
Buyer's Agent
Daniel Myers
Trank Real Estate
List Price
$320,000
Sold Price
$375,000
Premium/Discount to List
$55,000
17.19%
Current Estimated Value
$368,333

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$6,667
Avg. Annual Appreciation
0.24%
Original Mortgage
$684,000
Interest Rate
3.05%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 29, 2012
Sold by
Nuwer Kenneth
Bought by
Spink Properties Llc
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Pacific Premier Trust $187,500 Stewart Title
Spink Properties Llc $99,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Pacific Premier Trust $684,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/24/2021 11/24/21 Sold $375,000 +17.2% $131 / Sq Ft
07/19/2021 07/19/21 Pending -- -- --
07/07/2021 07/07/21 For Sale $320,000 -- $112 / Sq Ft
Source: Western New York Real Estate Information Services (WNYREIS)

Tax History Compared to Growth

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 -- $58,500 $7,500 $51,000
2023 $2,113 $58,500 $7,500 $51,000
2022 $3,616 $58,500 $7,500 $51,000
2021 $3,595 $58,500 $7,500 $51,000
2020 $3,442 $58,500 $7,500 $51,000
2019 $3,496 $58,500 $7,500 $51,000
2018 $3,465 $58,500 $7,500 $51,000
2017 $1,883 $58,500 $7,500 $51,000
2016 $3,535 $58,500 $7,500 $51,000
2015 -- $58,500 $7,500 $51,000
2014 -- $58,500 $7,500 $51,000
Source: Public Records

Agents Affiliated with this Home

  • Daniel Myers

    Seller's Agent in 2021

    Daniel Myers

    Trank Real Estate

    (716) 846-1000

    2 in this area

    51 Total Sales

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Map

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

MLS Number: B1348599

Western New York Real Estate Information Services (WNYREIS)

APN: 146600-201-160-0001-018-000

New York Erie County South Wales 14139

6460 Olean Rd, South Wales, NY

This home is located at 6460 Olean Rd, South Wales, NY 14139 since 07 July 2021 and is currently estimated at $366,000, approximately $127 per square foot. This property was built in 1900. 6460 Olean Rd is a home located in Erie County with nearby schools including Harold O. Brumsted Elementary School, Holland Middle School, and Holland High School.

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