633-635 South Union Street

Olean, NY 14760

$90,000
Last Sold Price
Beds
4,000 Sq. Ft.
$23 / Sq. Ft.
4,000
Sq. Ft.
$23
per Sq. Ft.

Description

This 7 unit apartment building is a great investment property. Currently bringing in $47,700 a year. Plus another $900. for the coin operated laundry. The seller just purchased this building in November, but had an opportunity to purchase something else and decided to put his efforts into that and sell this. There are 2 long term tenants there-3.5 years, paying $575 & $500, and 4 more have been there over a year, 1 just for 1 month. All rents are paid on time, one being several payments in a month....This 7 unit apartment building is a great investment property. Currently bringing in $47,700 a year. Plus another $900. for the coin operated laundry. The seller just purchased this building in November, but had an opportunity to purchase something else and decided to put his efforts into that and sell this. There are 2 long term tenants there-3.5 years, paying $575 & $500, and 4 more have been there over a year, 1 just for 1 month. All rents are paid on time, one being several payments in a month. Most are in 1 year leases. Each unit pays their own Electric. The seller has 1 gas payment of $200/month for the HWT, and also pays $300 for water. Apt 1 has all utilities included, as theirs is connected to the sellers utilities ($675/month). This building has recently had a flat roof put on approximately 4 years ago. It does need normal cosmetic repair/replacing, typical in most apartment buildings. There is room to raise rents a bit and bring a better cashflow in. There's a large parking lot, for approximately 10 cars. Put some money into this one and watch it return to you!
  1. Listed by Claudia Attard-Keary • Chamberlain Home Realty

Property Details for 633-635 South Union Street

On Waterfront
No
Nearest Cross Street
E Rvierside Dr

Location

Listing Courtesy of Chamberlain Home Realty

Sold By Howard Hanna Professionals

Add your commute
LISTING UPDATED: 02/17/2022 12:56 PM

Property Details for 633-635 South Union Street

StatusS - Closed / Rented
MLS #B1328639
Days on Market224
Taxes$4,639 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5 + Unit Apartments / Commercial Included
Year Built1910
Lot Size0.31 AC / 13,568 SF
CountyCattaraugus County

Location

Listing Courtesy of Chamberlain Home Realty

Sold By Howard Hanna Professionals

Add your commute

Building Information for 633-635 South Union Street

Stories1Residences-Year Built1910Building Size-Lot Size0.31 AC / 13,568 SF

Payment Calculator

$878 per month

30 year fixed, 7.25% Interest

Principal and Interest

$491

Property Taxes

$387

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 633-635 South Union Street

Summary
Location and General Information
  • Directions to Property: Follow Rt 16 S (S. Union St, pass the bridge, building is on the left
  • School District Name: Olean
  • Village: Not Applicable
Owner
  • Owner 1 First Name: Donald
  • Owner 1 Last Name: Lockwood
  • Owner City State: Bradford, PA
  • Owner Zip Code: 16701
Parking
  • Garage Spaces per Apt: No Garage Spaces
  • Parking Spaces per Apt: 3 Or More Spaces
Taxes and HOA Information
  • Area NYSWIS Code: Olean-City-041200
Property
Lot Information
  • Parcel Number: 041200-094-081-0002-023-000-0000
  • Num Of Acres: 0
  • Age Of Building: 112
  • Lot Number: 23
  • Lot Information: Commercial Zoning
Property and Assessments
  • Annual Special Assessment: $0
  • Assessed Value: $85,000
  • Year Built Description: Existing
  • Amenities Included: Coin Laundry
  • Floor Description: Ceramic-Some, Hardwood-Some, Laminate-Some, Wall To Wall Carpet-Some
  • Second Mortgage Home Equity Bala: $0
Utilities
  • Separate Utilities: Electricity
  • Sewer Description: Sewer Connected
  • Water Heater Fuel: Gas
  • Water Resources: Public Connected
Interior and Exterior Features
Exterior Features
  • Additional Exterior Features: Cable TV Available, High Speed Internet
  • Driveway Description: Blacktop
  • Exterior Construction: Vinyl, Wood
  • Roof Description: Asphalt, Flat
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: 4000
  • Basement Description: None
  • Heating Fuel Description: Electric, Gas
  • HVAC Type: Baseboard, Forced Air
  • Kitchen Equip Appl Included: Dryer, In All Apartments, Oven/Range Electric-Some, Refrigerator, Washer
Multi Family
Multi-Family Information
  • Special Conditions Call L Brk: No
  • Third Party Commentary Blog: Yes
  • Net Operating Income: $-4,639
  • Num Of Heating Units: 7
  • Income Expense Information: May Show Books
  • Operating Expenses Include: Exterior Maintenance, Repairs/Maintenance, Snow Plow, Water / Sewer
Rental
Rental Information
  • First Bedrm Average Month Rent: $675
  • Second Bedrm Average Month Rent: $500
  • Third Bedrm Average Month Rent: $600
  • Num Of 1 Bedroom Apartment: 1
  • Num Of 2 Bedroom Apartment: 1
  • Num Of 3 Bedroom Apartment: 2
  • Num Of Studio Apartments: 0
  • Total Num Of Apartments: 7
  • Rent Includes: Snow Removal, Water

Property History for 633-635 South Union Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 633-635 South Union 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

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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

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 Chamberlain Home Realty

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.