633-635 South Union Street

  • $165,000
Olean,

Description

This 7 unit apartment building is a great investment property. Currently bringing in $47,700 a year. Plus another $900. for the coin operated laundry. The seller just purchased this building in November, but had an opportunity to purchase something else and decided to put his efforts into that and sell this.
There are 2 long term tenants there-3.5 years, paying $575 & $500, and 4 more have been there over a year, 1 just for 1 month. All rents are paid on time, one being several payments in a month. Most are in 1 year leases.
Each unit pays their own Electric. The seller has 1 gas payment of $200/month for the HWT, and also pays $300 for water. Apt 1 has all utilities included, as theirs is connected to the sellers utilities ($675/month). This building has recently had a flat roof put on approximately 4 years ago. It does need normal cosmetic repair/replacing, typical in most apartment buildings. There is room to raise rents a bit and bring a better cashflow in. There’s a large parking lot, for approximately 10 cars. Put some money into this one and watch it return to you!
MLS #:B1328639

Details

Updated on June 18, 2021 at 12:00 am
  • Property ID: B1328639
  • Price: $165,000
  • Property Size: 4000
  • Acres: 0.312
  • Year Built: 1910
  • Property Type: Multi-Family
  • Property Status: For Sale

Additional details

  • Type: Commercial Included
  • Sq Ft Total: 4000
  • Numof Acres: 0.3115
  • List Price: 165000.00
  • Mls Number: B1328639
  • Street Number: 633-635
  • Postal City: Olean
  • City: Olean-City
  • Village: Not Applicable
  • State Or Province: NY - New York
  • Postal Code: 14760
  • County Or Parish: Cattaraugus
  • School District Name: Olean
  • Status: A-Active
  • Typeof Sale: Normal
  • Basement Description: None
  • Nearest Cross Street: E Rvierside Dr
  • Latitude: 42.068640
  • Longitude: -78.430409
  • Rent Includes: Snow Removal, Water
  • Separate Utilities: Electricity
  • Possible Financing: Cash, Commercial Loan
  • Incomeexpense Information: May Show Books
  • Ratio List Price By Acres: 529695.02
  • Ratio List Price By Sqft: 41.25
  • City Village Tax: 1276
  • School Tax: 2248
  • Town County Tax: 1115
  • Total Taxes: 4639
  • Total Numof Apartments: 7
  • Numof 1 Bedroom Apartment: Yes
  • Numof 2 Bedroom Apartment: Yes
  • Numof 3 Bedroom Apartment: 2
  • Operating Expenses Include: Exterior Maintenance, Repairs/Maintenance, Snow Plow, Water / Sewer
  • Numof Stories: 1.0000
  • Roof Description: Asphalt, Flat
  • Exterior Construction: Vinyl, Wood
  • Year Built: 1910
  • Driveway Description: Blacktop
  • Lot Dimensions Depth: 128
  • Lot Dimensions Frontage: 106
  • Lot Information: Commercial Zoning
  • Numof Heating Units: 7
  • Sewer Description: Sewer Connected
  • Heating Fuel Description: Electric, Gas
  • Hvac Type: Baseboard, Forced Air
  • Water Heater Fuel: Gas
  • Water Resources: Public Connected
  • Property Type: Multi-Family
  • Amenities Included: Coin Laundry
  • Floor Description: Ceramic-Some, Hardwood-Some, Laminate-Some, Wall To Wall Carpet-Some
  • Kitchen Equip Appl Included: Dryer, In All Apartments, Oven/Range Electric-Some, Refrigerator, Washer
  • Dom: 89
  • Directionsto Property: Follow Rt 16 S (S. Union St, pass the bridge, building is on the left
  • Address 633-635 South Union Street
  • City Olean
  • Zip/Postal Code 14760
  • Country United States

Overview

Property ID: B1328639
  • Multi-Family
  • Property Type
  • 4000
  • 0.312
  • Lot
  • 1910
  • Year Built

Mortgage Calculator

Monthly
  • Principal & Interest
  • Property Tax
  • Home Insurance
  • PMI
$
$
%
$
$
$

Walkscore

What's Nearby?

Contact Information

View Listings
Michael McVinney

Inquire About This Property

0 Review

Sort by:
Leave a Review

Leave a Review

Similar Listings

ChautauquaRealty.com, ERA Team VP, and M.L.McVinney & Associates, LLC has made every effort to obtained the information regarding these listings from sources deemed reliable. However, we cannot warrant the complete accuracy thereof subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice.

Compare listings

Compare
Michael McVinney
  • Michael McVinney