312 N 3rd St

Olean, NY 14760

$139,900
Price
8
Beds
5,616 Sq. Ft.
$25 / Sq. Ft.
5,616
Sq. Ft.
$25
per Sq. Ft.

Description

Unlock a prime investment opportunity in the heart of the Oak Hill Historic District with this four-unit apartment building located directly across from Olean High School. This property features four spacious two-bedroom units and offers significant upside potential with current rents sitting well below market rates, allowing the next owner to capitalize on immediate value-add opportunities. A standout feature for investors is the fully separate utilities, with individual meters for gas, electricity,...Unlock a prime investment opportunity in the heart of the Oak Hill Historic District with this four-unit apartment building located directly across from Olean High School. This property features four spacious two-bedroom units and offers significant upside potential with current rents sitting well below market rates, allowing the next owner to capitalize on immediate value-add opportunities. A standout feature for investors is the fully separate utilities, with individual meters for gas, electricity, and water already in place to minimize owners' expenses. The building has been well-maintained overall, but its older roof presents a clear opportunity for capital improvements that align with potential future rent growth. Tenants will appreciate the convenience of off-street parking and the charm of private outdoor porch areas available with three of the units. The location offers the best of both worlds, situated on a quiet, historic street while remaining highly walkable to the shops, dining, and revitalization of downtown Olean.
  1. Listed by Paul Pezzimenti • Howard Hanna Professionals - Olean
    P: (716)-372-1155 C: (716)-378-7039 PaulPezzimenti@howardhanna.com

Property Details for 312 North 3rd Street

Styles Of Residence
Fourplex
On Waterfront
No
Parking Description
Common, Parking Available, Two Or More Spaces
Nearest Cross Street
W Sullivan Street
LISTING UPDATED: 01/13/2026 05:33 PM

Property Details for 312 North 3rd Street

StatusActive
MLS #R1657969
Days on Market7
Taxes$4,041 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / Residential
Year Built1910
Lot Size0.19 AC / 8,250 SF
CountyCattaraugus County

Location

Listing Courtesy of Howard Hanna Professionals - Olean
Add your commute

Building Information for 312 North 3rd Street

Stories2Residences4Year Built1910Building Size-Lot Size0.19 AC / 8,250 SF

Payment Calculator

$1,019 per month

30 year fixed, 6.15% Interest

Principal and Interest

$682

Property Taxes

$337

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 312 North 3rd Street

Summary
Location and General Information
  • Elementary School Name: Washington West Elementary
  • Elementary School District: Olean
  • High School Name: Olean Senior High
  • High School District: Olean
  • Middle School Name: Olean Middle
  • Middle Or Junior School District: Olean
  • Village: Not Applicable
  • Human YN: Yes
Parking
  • Garage Spaces per Apt: .00
Taxes and HOA Information
  • Area NYSWIS Code: Olean-City-041200
  • Tax Annual Amount: $4,041.00
Property
Lot Information
  • Building Area Total: 5616.0
  • Land Features: Rectangular, Rectangular Lot, Residential Lot
  • Num Of Acres: 0.1894
  • Lot Size Area: 0.1894
  • Lot Size Square Feet: 8250.0
  • Lot Size Units: Acres
  • Parcel Number: 041200-094-057-0005-009-000-0000
  • Road Frontage: City Street
  • Lot Number: 9
Property and Assessments
  • Property Condition: Resale
  • Senior Community YN: No
  • Assessed Value: $72,000
  • Year Built: 1910
  • Year Built Description: Existing
Utilities
  • Electric Service: Circuit Breakers
  • Num Of Electric Meters: 4
  • Num Of Gas Meters: 4
  • Sewer Description: Connected
  • Utilities Available: Cable Available, Electricity Connected, High Speed Internet Available, Sewer Connected, Water Connected
  • Water Supply: Connected, Public
Interior and Exterior Features
Exterior Features
  • Construction Materials: Composite Siding, Copper Plumbing, Pex Plumbing
  • Foundation Description: Block, Stone
  • Roof Description: Asphalt
Interior Features
  • Appliances: Gas Water Heater
  • Basement Description: Full
  • Basement YN: Yes
  • Num Of Possible Bedrooms: 8
  • Num Fireplaces Total Calculated: 0
  • Fireplace YN: No
  • Floor Description: Carpet, Hardwood, Laminate, Varies
  • Heating: Gas, Forced Air
  • Heating YN: Yes
  • Interior Features: Ceiling Fans
  • Laundry Features: Washer Hookup
  • Levels: Two
  • Sq Ft Total: 5616.0
  • Main Level Bathrooms: 0
Multi Family
Multi-Family Information
  • Number Of Units In Community: 4
  • Number Of Units Total: 4
  • Operating Expense Includes: Other, See Remarks
  • Stories: 2
  • Stories Total: 2
Unit 1
  • Unit Type Actual Rent: $.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Features: Oven/ Range,Refrigerator,Eat-In Kitchen,Living Room
  • Unit Type Total Rent: $.00
  • Unit Type Num Full Baths: 1
  • Unit Type Num Half Baths: 0
  • Unit Type Actual Rent Range: 0
Unit 2
  • Unit Type Actual Rent: $400.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Features: Oven/ Range,Refrigerator,Eat-In Kitchen,Laundry-In Unit,Living Room
  • Unit Type Total Rent: $400.00
  • Unit Type Num Full Baths: 1
  • Unit Type Num Half Baths: 0
  • Unit Type Actual Rent Range: 400
Unit 3
  • Unit Type Actual Rent: $400.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Features: ,Eat-In Kitchen,Living Room,Porch
  • Unit Type Total Rent: $400.00
  • Unit Type Num Full Baths: 1
  • Unit Type Num Half Baths: 0
  • Unit Type Actual Rent Range: 400
Unit 4
  • Unit Type Actual Rent: $500.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Features: Oven/ Range,Refrigerator,Eat-In Kitchen,Laundry-In Unit,Living Room,Porch
  • Unit Type Total Rent: $500.00
  • Unit Type Num Full Baths: 1
  • Unit Type Num Half Baths: 0
  • Unit Type Actual Rent Range: 500
Rental
Rental Information
  • Tenant Pays: All Utilities

Property History for 312 North 3rd Street

DateEvent & SourcePriceAppreciation
Jan 13, 2026

Listed (Active)

WNYREIS #R1657969

$139,900—
DateEvent & SourcePrice
01/13/2026

Listed (Active)

WNYREIS #R1657969

$139,900

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 312 North 3rd Street

Taxable ValueLand$12,400Additions$59,600Total$72,000
Tax Record2024$2,718 ($227 / month)
Home Facts
Total Finished SqFt3,744 SqFtAbove Grade Finished SqFt3,744 SqFtUnfinished Basement SqFt1,872 SqFtStories2Lot Size8,250 SqFtStyleMulti-Family Res (5+ Units)Year Built1910CountyCATTARAUGUSAPN041200 94.057-5-9

Schools near 312 North 3rd Street

This home is within Olean City School District.
Rating
School
Type
Grades
Distance
Olean Middle School
Public - 2 to 10
Olean Senior High School
Public - 8 to 12
East View Elementary School
Public - PK to 3
Washington West Elementary School
Public - PK to 3
Rating
School
Distance
Olean Middle School
Public2 to 10

Olean Senior High School
Public8 to 12

East View Elementary School
PublicPK to 3

Washington West Elementary School
PublicPK to 3

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 312 North 3rd Street, Olean, NY 14760

312 North 3rd Street is a multi-family home for sale in Olean, NY 14760. This property was listed for sale on January 13, 2026 by Howard Hanna Professionals - Olean, it's currently listed at $139,900. This listing's school district is Olean City School District. Nearby schools include Olean Middle School, Olean Senior High School and East View Elementary School. 312 North 3rd Street is a 8-bed, 4-bath, 5,616 sqft multi-family home built in 1910.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Howard Hanna Professionals - Olean

Based on information from one of the following Multiple Listing Services: WNYREIS and Greater Binghamton Association of REALTORS. Information being provided is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by WNYREIS and Greater Binghamton Association of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.