Description
Metal...8-Unit Investment Opportunity! Strong Cash Flow Potential! Rare opportunity to purchase two multi-family properties totaling 8 units, to be sold together for $279,000 (approximately $35,000 per unit). The properties offer immediate income potential with room for growth. Current rents are below market, providing an opportunity for increased returns with future adjustments. Many units feature separate layouts, offering flexibility for tenants. The properties have seen numerous updates, including:
Metal roof (314) less than 1 year old
Roof (316) approximately 5 years old
There are currently two vacant, renovated units ready for occupancy, allowing for immediate lease-up or owner-occupant potential. Ideal opportunity for investors looking to expand their portfolio or for buyers seeking to offset living expenses by occupying one unit. Properties must be sold together (see MLS #R1667935 for additional property).
- Listed by Deon Gayton • EXP-Premier Listings TeamP: (888)-276-0630 C: (716)-790-2852 deongaytonrealestate@gmail.com
Property Details for 316 North 2nd Street
Property Details for 316 North 2nd Street
| Status | Pending |
|---|---|
| MLS # | R1667915 |
| Days on Market | 32 |
| Taxes | $2,218 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Property Type | Multi Family |
| MLS Type | Multi Family / Residential |
| Year Built | 1917 |
| Lot Size | 0.19 AC / 8,112 SF |
| County | Cattaraugus County |
Location
Building Information for 316 North 2nd Street
Payment Calculator
$833 per month
30 year fixed, 6.36% Interest
$648
$185
$0
Know your buying power with a preapproval and custom rate in minutes
1Property Information for 316 North 2nd Street
- Elementary School District: Olean
- High School District: Olean
- Middle Or Junior School District: Olean
- Village: Not Applicable
- Human YN: Yes
- Garage Spaces per Apt: .00
- Area NYSWIS Code: Olean-City-041200
- Tax Annual Amount: $2,218.00
- Building Area Total: 2033.0
- Land Features: Rectangular, Rectangular Lot, Residential Lot
- Num Of Acres: 0.1862
- Lot Size Area: 0.1862
- Lot Size Square Feet: 8112.0
- Lot Size Units: Acres
- Parcel Number: 041200-094-057-0005-015-000-0000
- Road Frontage: City Street
- Lot Number: 15
- Property Condition: Resale
- Senior Community YN: No
- Assessed Value: $39,500
- Year Built: 1917
- Year Built Description: Existing
- Num Of Electric Meters: 3
- Num Of Gas Meters: 3
- Sewer Description: Connected
- Utilities Available: Sewer Connected, Water Connected
- Water Supply: Connected, Public
- Construction Materials: Brick, Stone, Vinyl Siding
- Appliances: Gas Water Heater
- Basement Description: Dirt Floor
- Num Of Possible Bedrooms: 4
- Num Fireplaces Total Calculated: 0
- Fireplace YN: No
- Floor Description: Carpet, Laminate, Varies, Vinyl
- Heating: Gas, Forced Air
- Heating YN: Yes
- Sq Ft Total: 2033.0
- Main Level Bathrooms: 0
- Number Of Units In Community: 3
- Number Of Units Total: 3
- Operating Expense Includes: Maintenance Structure, Water Sewer
- Stories Total: 1
- Unit Type Actual Rent: $783.00
- Unit Type Baths Total: 1
- Unit Type Beds Total: 1
- Features: ,Eat-In Kitchen
- Unit Type Total Rent: $783.00
- Unit Type Num Full Baths: 1
- Unit Type Num Half Baths: 0
- Unit Type Actual Rent Range: 783
- Unit Type Actual Rent: $550.00
- Unit Type Baths Total: 1
- Unit Type Beds Total: 1
- Features: ,Eat-In Kitchen
- Unit Type Total Rent: $550.00
- Unit Type Num Full Baths: 1
- Unit Type Num Half Baths: 0
- Unit Type Actual Rent Range: 550
- Unit Type Actual Rent: $700.00
- Unit Type Baths Total: 1
- Unit Type Beds Total: 2
- Features: ,Eat-In Kitchen
- Unit Type Total Rent: $700.00
- Unit Type Num Full Baths: 1
- Unit Type Num Half Baths: 0
- Unit Type Actual Rent Range: 700
- Rent Includes: Hot Water, Snow Removal, Water
Property History for 316 North 2nd Street
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Apr 20, 2026 | Pending WNYREIS #R1667915 | — | |
| Apr 12, 2026 | Price Change WNYREIS #R1667915 | $130,000 | — |
| Apr 7, 2026 | Price Change WNYREIS #R1667915 | $134,500 | — |
| Mar 19, 2026 | Listed (Active) WNYREIS #R1667915 | $139,500 | — |
| Date | Event & Source | Price |
|---|---|---|
| 04/20/2026 | Pending WNYREIS #R1667915 | — |
| 04/12/2026 | Price Change WNYREIS #R1667915 | $130,000 |
| 04/07/2026 | Price Change WNYREIS #R1667915 | $134,500 |
| 03/19/2026 | Listed (Active) WNYREIS #R1667915 | $139,500 |
For completeness, we often displays two records for one sale: the MLS record and the public record.
Public Records for 316 North 2nd Street
Schools near 316 North 2nd Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | 3 to 8 | |||
| Public - | 8 to 12 | |||
| Public - | PK to 3 | |||
| Public - | PK to 3 |
Rating | School | Distance |
|---|---|---|
Olean Middle School Public3 to 8 | ||
Olean Senior High School Public8 to 12 | ||
Washington West Elementary School PublicPK to 3 | ||
East View 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.
Similar Homes
Explore Nearby Homes
- Allegany Village Homes for Sale
- Eldred Township - McKean County Homes for Sale
- Olean City Homes for Sale
- Olean Town Homes for Sale
- Portville Village Homes for Sale
- Weston Mills Homes for Sale
- Otto Township - McKean County Homes for Sale
- Foster Township - McKean County Homes for Sale
- Clarksville Homes for Sale
- Genesee Homes for Sale
- Humphrey Homes for Sale
- Ceres Township - McKean County Homes for Sale
- Carrollton Homes for Sale
- Allegany Reservation Homes for Sale
- Foster Brook Homes for Sale
- Allegany Homes for Sale
- St. Bonaventure Homes for Sale
- Portville Homes for Sale
- Hinsdale Homes for Sale
- Duke Center Homes for Sale
- Derrick City Homes for Sale
- Olean Homes for Sale
- Ischua Homes for Sale
- Eldred Homes for Sale
- Rixford Homes for Sale
- Ceres Homes for Sale
- Cuba Homes for Sale
- Little Genesee Homes for Sale
- Great Valley Homes for Sale
- Limestone Homes for Sale
- 14706 Homes for Sale
- 16731 Homes for Sale
- 14778 Homes for Sale
- 14770 Homes for Sale
- 14753 Homes for Sale
- 14743 Homes for Sale
- 14727 Homes for Sale
- 16727 Homes for Sale
- 16729 Homes for Sale
- 16701 Homes for Sale
- 14721 Homes for Sale
- 16745 Homes for Sale
- 16748 Homes for Sale
- 14741 Homes for Sale
- 14715 Homes for Sale
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 EXP-Premier Listings Team
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.
