321 North 1st Street

Olean, NY 14760

$399,900
Price
Beds
4,340 Sq. Ft.
$92 / Sq. Ft.
4,340
Sq. Ft.
$92
per Sq. Ft.

Description

This ready-to-go investment is a portfolio of three houses that are currently grandfathered in as rooming houses by the City of Olean. They are outsourced for management with minimal owner interaction and the management company would stay on if the new owner wanted them to. All expenses included boasts a 11.23% cap rate with management staying on or a 15.12% cap if you were to manage it yourself. The properties are a total of 30 rooms including three studio apartments. They could also be split into...

Property Details for 321 North 1st Street

On Waterfront
No

Location

Listing Courtesy of Howard Hanna Professionals

Property Details for 321 North 1st Street

StatusActive
MLS #R1327625
Days on Market74
Taxes$17,483 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5 + Unit Apartments / Rooming House
Year Built1900
Lot Size0.14 AC / 6,142 SF
CountyCattaraugus County

Listing Agent

Paul Pezzimenti

Paul Pezzimenti

Howard Hanna Professionals

PaulPezzimenti@howardhanna.com

P: 716.372.1155

M: 716.378.7039

Contact Agent(s)

Location

Listing Courtesy of Howard Hanna Professionals

Building Information for 321 North 1st Street

Stories2Residences-Year Built1900Building Size-Lot Size0.14 AC / 6,142 SF

Payment Calculator

$2,797 per month

30 year fixed, 2.95% Interest

Principal and Interest

$1,340

Property Taxes

$1,457

HOA Dues

$0

Property Information for 321 North 1st Street

Summary
    Location and General Information
  • Directions to Property: N 1st is off of Wayne Street, North Clinton is off of E State Street, and South Barry is off of East State Street
  • Nearest Cross Street: W Sullivan St
  • Elementary School Name: East View Elementary
  • High School Name: Olean Senior High
  • Middle School Name: Olean Middle
  • Postal City: Olean
  • School District Name: Olean
  • Village: Not Applicable
    Owner
  • Owner 1 Last Name: 92 Astor Group LLC
  • Owner City State: Hoboken, NJ
  • Owner Street Num Street Name: 333 River St #1141
  • Owner Zip Code: 07030
    Parking
  • Garage Spaces per Apt: No Garage Spaces
  • Parking Spaces per Apt: Less Than 1 Space
    Taxes and HOA Information
  • City Village Tax: $4,839
  • School Tax: $8,463
  • Town County Tax: $4,181
  • Area NYSWIS Code: Olean-City-041200
Property
    Lot Information
  • Parcel Number: 041200-094-057-0005-029-000-0000
  • Num Of Acres: 0
  • Age Of Building: 121
  • Lot Dimensions Depth: 166
  • Lot Dimensions Frontage: 37
  • Lot Number: 29
  • Lot Information: Neighborhood Street
    Property and Assessments
  • Annual Special Assessment: $0
  • Assessed Value: $320,000
  • Year Built Description: Existing
  • Amenities Included: No Amenities
  • Floor Description: Hardwood-Some, Laminate-Some, Vinyl-Some, Wall To Wall Carpet-Some
  • Second Mortgage Home Equity Bala: $0
    Utilities
  • Num Of Electric Meters: 8
  • Num Of Gas Meters: 6
  • Sewer Description: Sewer Connected
  • Water Heater Fuel: Gas
  • Water Resources: Public Connected
Interior and Exterior Features
    Exterior Features
  • Additional Exterior Features: Cable TV Available, Deck, Garage Door Opener, High Speed Internet, Partially Fenced Yard
  • Driveway Description: Blacktop, Common, Dirt, Parking Area, Stone/Gravel
  • Exterior Construction: Composition, 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: 4340
  • Additional Interior Features: Ceiling Fan, Circuit Breakers - Some, Copper Plumbing - Some, Electrical Fuses - some
  • Basement Description: Full
  • Heating Fuel Description: Gas
  • HVAC Type: Baseboard, Forced Air, Space Heater
  • Kitchen Equip Appl Included: Dishwasher, Dryer, Microwave, 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: $88,764
  • Gross Annual Income: $141,180
  • Net Operating Income: $123,697
  • Num Of Heating Units: 5
  • Income Expense Information: May Show Books, Provided By Owner
  • Operating Expenses Include: Electric, Exterior Maintenance, Insurance, Management, Property Management, Repairs/Maintenance, Resident Management, Snow Plow, Utilities, Water / Sewer
Rental
    Rental Information
  • First Bedrm Average Month Rent: $392
  • Num Of 1 Bedroom Apartment: 30
  • Num Of 2 Bedroom Apartment: 0
  • Num Of 3 Bedroom Apartment: 0
  • Num Of Studio Apartments: 3
  • Studio Average Monthly Rent: $495
  • Total Num Of Apartments: 12
  • Rent Includes: All Utilities, Cable TV, Grounds Maintenance, Snow Removal, Water

Property History for 321 North 1st Street

DateEvent & SourcePriceAppreciation
Apr 5, 2021

Listed (Active)

WNYREIS #R1327625

$399,900
Dec 7, 2017

Sold

WNYREIS #1041109

$81,700
Nov 30, 2017

Sold (Public Record)

Public Record #613899812

$81,700

+4.8% / yr

DateEvent & SourcePrice
04/05/2021

Listed (Active)

WNYREIS #R1327625

$399,900
12/07/2017

Sold

WNYREIS #1041109

$81,700
11/30/2017

Sold (Public Record)

Public Record #613899812

$81,700

+4.8% / yr

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

Public Records for 321 North 1st Street

Taxable ValueLand$8,600Additions$51,400Total$60,000
Tax Record2021$3,917 ($326 / month)
Home Facts
Baths3Total Finished SqFt4,340 SqFtAbove Grade Finished SqFt2,583 SqFtFinished Basement SqFt1,757 SqFtUnfinished Basement SqFt1,757 SqFtStories2Lot Size6,142 SqFtStyleTriplexYear Built1900CountyCATTARAUGUSAPN041200 94.057-5-29

Schools near 321 North 1st Street


SchoolTypeGradesDistanceRating
Olean Senior High SchoolPublic7-120.2 mi
5
Olean Middle SchoolPublic4-70.2 mi
4
Southern Tier Catholic SchoolPrivatePK-80.5 mi
NR
New Life Christian SchoolPrivateK-120.7 mi
NR

Olean Senior High School

7-12, 0.2 mi, Public

5

Olean Middle School

4-7, 0.2 mi, Public

4

Southern Tier Catholic School

PK-8, 0.5 mi, Private

NR

New Life Christian School

K-12, 0.7 mi, Private

NR

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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321 North 1st Street is a multi-family home for sale in Olean, NY 14760. This property was listed for sale on April 5, 2021 by Howard Hanna Professionals at $399,900. It has been on the market for a total of 76 days and was last sold on December 7, 2017. This listing's school district is Olean City School District. Nearby schools include Olean Senior High School, Olean Middle School and Southern Tier Catholic School. 321 North 1st Street is a 0-bed, 0-bath, 4,340 sqft multi-family home built in 1900. This address can also be written as 321 N 1st St.

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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Howard Hanna Professionals