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1615 W State ST Olean, NY 14760
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Key Details
Sold Price $120,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 14,675 sqft
Price per Sqft $8
MLS Listing ID R1187676
Sold Date 02/01/21
Construction Status Existing
HOA Y/N No
Year Built 1905
Annual Tax Amount $7,625
Lot Size 0.304 Acres
Acres 0.3037
Lot Dimensions 98X135
Property Sub-Type Apartment
Property Description
Solid investment opportunity available, this property produces a 12% cap rate at full asking price, making it very investable. All of the units are rented by tenants with three out of five being long term tenants. The building offers ample parking, the roof has been repaired and replaced over the current owner's tenure of ownership and is on the busiest street in Olean.
- Rubber Roof
- Separately metered except water
- Rental income: $2,825 per month
- Total Taxes: $7,568
- All Circuit Breakers
- AC in the front commercial units
Location
State NY
County Cattaraugus
Area Olean-City-041200
Zoning COM 1
Direction On West State Street, immediately past the traffic light coming from the corner of State and Union
Interior
Heating Gas, Forced Air
Flooring Carpet, Hardwood, Linoleum, Varies, Vinyl
Fireplace No
Exterior
Utilities Available Sewer Connected
Roof Type Membrane,Rubber
Total Parking Spaces 20
Building
Story 2
Sewer Public Sewer
Level or Stories Two
Structure Type Block
Construction Status Existing
Schools
Elementary Schools Washington West Elementary
Middle Schools Olean Middle
High Schools Olean Senior High
School District Olean
Others
Tax ID 041200-094-063-0006-050-000-0000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Conventional
Special Listing Condition Standard
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Bought with Howard Hanna Professionals