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    321 N 1st Street

    Olean-City, NY 14760
    • $399,900
    • STATUS: Active
    • ON SITE: 41 days
    • MLS #: R1327625
    UPDATED: 29 min ago
    $399,900
    • 0
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,340
      SQFT
    • $92
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1900
    County:

    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: 2021-05-17T20:14:33.653.
    www.nnywaterfronthomes.com/homes/115764243
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    321 N 1st Street Olean-City, NY 14760

    • Price: $399,900
    • Status: Active
    • Updated: 29 min ago
    • MLS #: R1327625
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    4,340
    SQFT
    $92
    $/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: 2021-05-17T20:14:33.653.
     
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    WEICHERT, REALTORS® - Thousand Islands Realty
    306 James Street
    Clayton NY, 13624