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Listing Details

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MLS #
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Neighborhood
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Type
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Built
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School Information

Elementary School
Middle School
High School
School District

Description

This ready-to-go investment is a portfolio of three houses that are currently grandfathered in as rooming houses by the City of Olean. They are outsourced for management with minimal owner interaction and the management company would stay on if the new owner wanted them to. All expenses included boasts a 11.23% cap rate with management staying on or a 15.12% cap if you were to manage it yourself. The properties are a total of 30 rooms including three studio apartments. They could also be split into 4 units per building for a total of 12 units if you were to adjust from the rooming house layout. Regular upkeep and maintenance has occurred on these properties, including a new sewer pipe to the street, new hot water tank and new heating system. Income/Expense numbers can be provided. Sale includes (321 N 1st Street 94.057-5-29; 111 North Clinton Street 94.065-7-14; 125 S Barry Street 94.065-7-39)

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©2021 CNYIS, GENRIS, WNYREIS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s) nor WEICHERT, REALTORS® - Thousand Islands Realty shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.

The data relating to real estate on this web site comes in part from the Internet Data Exchange (IDX) Program of NYSAMLS’s. Real estate listings held by firms other than WEICHERT, REALTORS® - Thousand Islands Realty are marked with the IDX logo and detailed information about them includes the Listing Broker’s Firm Name. Data last updated: 2021-09-20T00:13:52.437.
www.nnywaterfronthomes.com/homes/115764243
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321 N 1St, 111 N Clinton, 125 S Barry St Street Olean-City, NY 14760

  • Price: $370,000
  • Status: Active
  • Updated: 52 min ago
  • MLS #: R1327625
0
Beds
0
Baths
0
½ Baths
0.14
Acres
4,340
SQFT
$85
$/SQFT
1900
Built
Neighborhood:
Olean-City-041200
County:
Cattaraugus
Area:
Olean-City-041200
Elementary School:
East View Elementary
Middle School:
Olean Middle
High School:
Olean Senior High
School District:
Olean
Property Description
This ready-to-go investment is a portfolio of three houses that are currently grandfathered in as rooming houses by the City of Olean. They are outsourced for management with minimal owner interaction and the management company would stay on if the new owner wanted them to. All expenses included boasts a 11.23% cap rate with management staying on or a 15.12% cap if you were to manage it yourself. The properties are a total of 30 rooms including three studio apartments. They could also be split into 4 units per building for a total of 12 units if you were to adjust from the rooming house layout. Regular upkeep and maintenance has occurred on these properties, including a new sewer pipe to the street, new hot water tank and new heating system. Income/Expense numbers can be provided. Sale includes (321 N 1st Street 94.057-5-29; 111 North Clinton Street 94.065-7-14; 125 S Barry Street 94.065-7-39)
Exterior Features

Construction Materials Composite SidingWood SidingCopper Plumbing Exterior Features Blacktop DrivewayDirt DrivewayDeckFenceGravel Driveway Fencing Partial Lot Features Residential Lot Parking Features DrivewayGarage Door OpenerShared Driveway Patio And Porch Features Deck Road Frontage Type City Street Roof Asphalt Waterfront YN No

Interior Features

Appliances DryerDishwasherElectric OvenElectric RangeGas Water HeaterMicrowaveRefrigeratorWasher Basement Full Fireplace YN No Fireplaces Total 0 Flooring CarpetHardwoodLaminateVariesVinyl Heating GasBaseboardForced AirSpace Heater Heating YN Yes Interior Features Ceiling Fan(S) Levels Two

Property Features

Electric Circuit BreakersFuses Gross Income 141180 Listing Terms CashConventional Possession Close Of Escrow Property Sub Type Rooming House Rent Includes All UtilitiesCommon Area MaintenanceSnow RemovalCable TvWater Sewer Connected Special Listing Conditions Standard Tax Annual Amount 17483 Utilities Cable AvailableHigh Speed Internet AvailableSewer ConnectedWater Connected Water Source ConnectedPublic

Listing information © 2021 CNYIS, GENRIS, WNYREIS. Listing courtesy of Paul Pezzimenti of Howard Hanna Professionals.
©2021 CNYIS, GENRIS, WNYREIS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s) nor WEICHERT, REALTORS® - Thousand Islands Realty shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.

The data relating to real estate on this web site comes in part from the Internet Data Exchange (IDX) Program of NYSAMLS’s. Real estate listings held by firms other than WEICHERT, REALTORS® - Thousand Islands Realty are marked with the IDX logo and detailed information about them includes the Listing Broker’s Firm Name. Data last updated: 2021-09-20T00:13:52.437.
 
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WEICHERT, REALTORS® - Thousand Islands Realty
306 James Street
Clayton NY, 13624