311 North 6th Street

Olean, NY 14760

$131,000
Last Sold Price
Beds
3,782 Sq. Ft.
$35 / Sq. Ft.
3,782
Sq. Ft.
$35
per Sq. Ft.

Description

This 5-unit rental property is ready to go with a 15% cap rate (see the last picture). With several updates including a new furnace, some new drywall, and has a brand new roof (Jan 2022). There is one parking space for tenants on the property. There are refrigerators and oven/ranges for each of the units and 2 sets of washers and dryers that the landlord owns. Three of the units are heated with electric baseboard (all but one paid by tenants), and the others are with furnaces with one of the furances...This 5-unit rental property is ready to go with a 15% cap rate (see the last picture). With several updates including a new furnace, some new drywall, and has a brand new roof (Jan 2022). There is one parking space for tenants on the property. There are refrigerators and oven/ranges for each of the units and 2 sets of washers and dryers that the landlord owns. Three of the units are heated with electric baseboard (all but one paid by tenants), and the others are with furnaces with one of the furances being brand new. The studio apartment water and electric is paid by the landlord. Water is $80-120 per month and electric for the studio is about $30.
  1. Listed by Paul Pezzimenti • Howard Hanna Professionals

Property Details for 311 North 6th Street

On Waterfront
No
Nearest Cross Street
West Sullivan Street

Location

Listing Courtesy of Howard Hanna Professionals

Sold By Chautauqua-Cattaraugus Board MLS

Add your commute
LISTING UPDATED: 11/07/2022 12:00 PM

Property Details for 311 North 6th Street

StatusS - Closed / Rented
MLS #R1387207
Days on Market172
Taxes$2,435 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5 + Unit Apartments / Other - See Remarks
Year Built1910
Lot Size0.15 AC / 6,400 SF
CountyCattaraugus County

Location

Listing Courtesy of Howard Hanna Professionals

Sold By Chautauqua-Cattaraugus Board MLS

Add your commute

Building Information for 311 North 6th Street

Stories2Residences-Year Built1910Building Size-Lot Size0.15 AC / 6,400 SF

Payment Calculator

$918 per month

30 year fixed, 7.25% Interest

Principal and Interest

$715

Property Taxes

$203

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 311 North 6th Street

Summary
Location and General Information
  • Directions to Property: From West State Street, turn onto N 6th St, the property is on the left.
  • Elementary School Name: Washington West Elementary
  • High School Name: Olean Senior High
  • Middle School Name: Olean Middle
  • School District Name: Olean
  • Village: Not Applicable
Owner
  • Owner 1 First Name: Jess
  • Owner 1 Last Name: Anderson
  • Owner City State: Olean, NY
  • Owner Street Num Street Name: 446 York St
  • Owner Zip Code: 14760
Parking
  • Garage Spaces per Apt: No Garage Spaces
  • Parking Spaces per Apt: 1 Space
Taxes and HOA Information
  • Area NYSWIS Code: Olean-City-041200
Property
Lot Information
  • Parcel Number: 041200-094-056-0007-012-000-0000
  • Num Of Acres: 0
  • Age Of Building: 112
  • Lot Number: 12
  • Lot Information: Neighborhood Street
Property and Assessments
  • Annual Special Assessment: $0
  • Assessed Value: $44,500
  • Year Built Description: Existing
  • Amenities Included: No Amenities
  • Floor Description: Laminate-Some
  • Second Mortgage Home Equity Bala: $0
Utilities
  • Num Of Electric Meters: 5
  • Num Of Gas Meters: 5
  • Separate Utilities: Electricity, Gas
  • Sewer Description: Sewer Connected
  • Water Heater Fuel: Electric, Gas
  • Water Resources: Public Connected
Interior and Exterior Features
Exterior Features
  • Additional Exterior Features: Cable TV Available, High Speed Internet
  • Driveway Description: Concrete
  • Exterior Construction: Wood
  • Roof Description: Asphalt
Interior Features
  • Num Bedrooms 4 Th Floor: 0
  • Num Fireplaces Artificial: 0
  • Num Fireplaces Freestanding: 0
  • Num Fireplaces Gas: 0
  • Num Fireplaces Not Repto Code: 0
  • Num Fireplaces Other: 0
  • Num Fireplaces Pellet: 0
  • Num Fireplaces Total Calculated: 0
  • Num Fireplaces Woodburning: 0
  • Num Fireplaces Woodstoves: 0
  • Num Full Baths 4 Th Floor: 0
  • Num Half Baths 4 Th Floor: 0
  • Sq Ft Total: 3782
  • Additional Interior Features: Circuit Breakers - Some
  • Basement Description: None
  • Heating Fuel Description: Electric, Gas
  • HVAC Type: Baseboard, Forced Air, Programmable Thermostat
  • Kitchen Equip Appl Included: Dryer, Other - See Remarks, Oven/Range Electric-Some, Refrigerator, Washer
Multi Family
Multi-Family Information
  • Special Conditions Call L Brk: No
  • Third Party Commentary Blog: Yes
  • Annual Operating Expenses: $7,825
  • Gross Annual Income: $33,000
  • Net Operating Income: $22,740
  • Num Of Heating Units: 5
  • Income Expense Information: Provided By Owner
  • Operating Expenses Include: Utilities, Water / Sewer
Rental
Rental Information
  • First Bedrm Average Month Rent: $500
  • Second Bedrm Average Month Rent: $575
  • Num Of 1 Bedroom Apartment: 2
  • Num Of 2 Bedroom Apartment: 2
  • Num Of 3 Bedroom Apartment: 0
  • Num Of Studio Apartments: 1
  • Studio Average Monthly Rent: $600
  • Total Num Of Apartments: 5
  • Rent Includes: Other - See Remarks, Water

Property History for 311 North 6th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 311 North 6th Street

Taxable ValueLand$10,200Additions$78,800Total$89,000
Home Facts
Total Finished SqFt2,558 SqFtAbove Grade Finished SqFt2,558 SqFtUnfinished Basement SqFt1,224 SqFtStories2Lot Size6,400 SqFtStyleMulti-Family Res (5+ Units)Year Built1910CountyCATTARAUGUSAPN041200 94.056-7-12

Schools near 311 North 6th Street

This home is within Olean City School District.
Rating
School
Type
Grades
Distance
Public - 4 to 7
Public - 8 to 12
Public - PK to 3
Public - PK to 3
Rating
School
Distance
Olean Middle School
Public4 to 7

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

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Similar Sold Homes

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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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Howard Hanna Professionals

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.