$155,000
$152,000
2.0%For more information regarding the value of a property, please contact us for a free consultation.
8 Beds
5 Baths
2,950 SqFt
SOLD DATE : 12/01/2025
Key Details
Sold Price $155,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,950 sqft
Price per Sqft $52
MLS Listing ID B1562789
Sold Date 12/01/25
Style Fourplex
Bedrooms 8
Full Baths 5
Construction Status Existing
HOA Y/N No
Year Built 1930
Annual Tax Amount $3,249
Lot Size 6,500 Sqft
Lot Dimensions 50X130
Property Sub-Type Multi Family
Property Description
This is a 5 unit apartment complex located in downtown Olean next to JCC. Zoned Commercial. 3 of the units are currently rented by long term tenants that pay on time. The 4th unit is vacant and ready to move in. The 5th unit is under construction. The Broker/Appraiser estimates the gross yearly rent to be $48,000 annually with a $28,000 Net profit. The CAP rate at full asking price is 15.8 %. 5 total units, 8 total bedrooms, 5 total bathrooms. Off Street parking. 2 minute walk to downtown Olean.
Location
State NY
County Cattaraugus
Area Olean-City-041200
Direction Next door to JCC
Rooms
Basement Crawl Space
Interior
Heating Gas, Zoned
Cooling Zoned
Flooring Carpet, Varies, Vinyl
Fireplace No
Appliance Gas Water Heater
Exterior
Utilities Available Sewer Connected, Water Connected
Building
Lot Description Rectangular, Rectangular Lot
Story 2
Sewer Connected
Water Connected, Public
Architectural Style Fourplex
Level or Stories Two
Structure Type Vinyl Siding
Construction Status Existing
Schools
School District Olean
Others
Senior Community No
Tax ID 94.065-4-18
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash
Special Listing Condition Standard
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Bought with 3D Real Estate LLC
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