Property 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.rnThere 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.rnEach 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!

: Cable tv available, High speed internet
: Vinyl, Wood
: Hardwood-some, Wall to wall carpet-some, Ceramic-some, Laminate-some
: Flat, Asphalt
: Electricity
: Sewer connected
: Public connected
Additional Information
Claudia Attard-Keary
Chamberlain Home Realty
: Olean

5 + unit apartments Sell

633-635 Union Street, Olean-City, NY - New York 14760

4,000 Sqft
Listing ID #B1328639
Basic Details
Property Type : 5 + unit apartments
Listing Type : Sell
Listing ID : B1328639
Price : $195,900
Square Footage : 4,000 Sqft
Year Built : 1910
Lot Area : 0.31 Acre
State : NY - New York
County : Cattaraugus
City : Olean-City
Zipcode : 14760
DOM : 4
Status : A-active
Agent info
Chamberlain Home Realty
220 W State St. Olean, NY 14760
Contact Agent
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