947 N Union ST Olean, NY 14760
6 Beds
3 Baths
3,536 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Mobile Home
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,536 sqft
Price per Sqft $45
MLS Listing ID R1710917
Style Other,See Remarks,Triplex
Bedrooms 6
Full Baths 3
Construction Status Existing
HOA Y/N No
Year Built 1915
Annual Tax Amount $4,536
Lot Size 5,227 Sqft
Acres 0.12
Lot Dimensions 40X115
Property Sub-Type Multi Family
Property Description
Some multi-family properties are bought for the spreadsheet alone. This one gives you both — a solid set of numbers and a building people actually want to live in.
THE CONDITION
The property presents as well maintained throughout — looked after rather than merely occupied. All three units are in solid rentable condition today, with incredible woodwork throughout.
WHAT HAS ALREADY BEEN DONE
NEW SEWER LINE FROM THE STREET. If you have owned rental property in an older neighborhood, you know exactly what this is worth. It is among the most expensive and disruptive repairs a building of this era can face, and it is done.
UPDATED ELECTRICAL PANELS.
UTILITIES LARGELY SEPARATED by unit, keeping operating costs predictable and accountability clear.
THE LAYOUT
Three units, six bedrooms, and three baths in total. Each unit has its own porch—private outdoor space for each tenancy—and the upstairs unit has two. The front lower unit has its own laundry. The upper and rear units share a laundry area in the basement.
THE INCOME PICTURE
All three units are occupied under long-term tenancies, so the property produces income from day one rather than after a lease-up period. Current rents sit below market. That is deliberate, not an oversight: the income has room to move for a buyer who wants it, and the in-place figures are conservative rather than stretched.
PLEASE NOTE, in the interest of a clean transaction: there is no off-street parking, and the owner currently pays electric and water for the lower front and rear units.
AVAILABLE AS A PACKAGE
These three units may be purchased together with a nearby duplex held by the same owner — a combined five units in a single transaction, with one seller and one closing timeline. Each property is a one- to four-unit residential building and can also be purchased individually. Buyers should confirm financing structure with their own lender.
Location
State NY
County Cattaraugus
Area Olean-City-041200
Direction From Route 16 turn onto N Union Street the property is just past St. John's Parish on the left
Rooms
Basement Dirt Floor, Full
Interior
Interior Features Ceiling Fan(s), Natural Woodwork
Heating Gas, Forced Air, Wall Furnace
Flooring Hardwood, Varies, Vinyl
Fireplace No
Appliance Gas Water Heater
Laundry Common Area
Exterior
Utilities Available Cable Available, High Speed Internet Available, Sewer Connected, Water Connected
Roof Type Asphalt
Porch Covered, Porch
Building
Lot Description Rectangular, Rectangular Lot, Residential Lot
Story 2
Foundation Block, Stone
Sewer Connected
Water Connected, Public
Architectural Style Other, See Remarks, Triplex
Level or Stories Two
Structure Type Wood Siding,Copper Plumbing,PEX Plumbing
Construction Status Existing
Schools
Elementary Schools East View Elementary
Middle Schools Olean Middle
High Schools Olean Senior High
School District Olean
Others
Senior Community No
Tax ID 041200-094-049-0001-018-001-0000
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Special Listing Condition Standard
Virtual Tour https://tour.giraffe360.com/e50689692e754678b5d0d788c6673df1
NEARBY SCHOOLS & PROPERTIES