Real Estate Listing Details | Michael McVinney
Contact Michael McVinney, a NY licensed Real Estate Broker. Michael McVinney is also licensed in PA.
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1615 West State Street, Olean

$150,000
  • Remarks: 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. Call for a showing today – 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

Property Details

  • MLS #: R1187676
  • Days On Market: 257
  • Price: $150,000
  • Sq Ft Total: 14675
  • Businessis Franchise Y/N: N
  • Category: Apartments,Commercial,Mixed Use
  • County: Cattaraugus
  • Lot Number: 50
  • Property Type: Commercial/Industrial
  • Transaction Type: Sell
  • Status: A-Active
  • Year Built: 1905
  • Price / SQFT: $10
  • Price / Acres: $493,908
  • State: NY – New York
  • Postal City: Olean
  • Village: Not Applicable
  • Zip: 14760

Interior Features

  • Floor Description: Carpet,Hardwood-Some,Linoleum/Vinyl
  • HVAC Type: Forced Air
  • Heating Fuel Description: Gas
  • Stories: 2
  • Rooms: 9
  • Living Quarters Description: Apartment
  • Living Quarters Y/N: Y

Exterior Features

  • 2 Bedroom Units: 1
  • 3 Bedroom Units: 1
  • Construction: Block
  • Location: Business District
  • Lot Dimensions Depth: 135
  • Lot Dimensions Frontage: 98
  • Num of Avl Parking Spaces: 20
  • Num of Buildings: 1
  • On Waterfront Y/N: N
  • Roof: Rubber Membrane
  • Sewer Water: Public Sewer Connected

Financial/Other Information

  • Age of Building: 115
  • City Village Tax: 2005
  • Residential Units: 2
  • Sale Includes: Land and Building
  • School Tax: 3625
  • Total Taxes: 7625
  • Town County Tax: 1995
  • Type of Sale: Normal
  • Zoning Code: COM 1
  • Nearest Cross Street: N 15th Street
  • Directions To Property: On West State Street, immediately past the traffic light coming from the corner of State and Union

This Listing is Courtesy of: Howard Hanna Professionals.
Disclaimer: All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified.

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