2724 NYS Rte 16 N Olean-Town, NY $ 279,000
2724 NYS Rte 16 N
$ 279,000
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2724 NYS Rte 16 N

Olean-Town, NY, 14760
$ 279,000
Bedrooms1 Baths0.0 Sq 5,778

Monthly Estimate*

$ 1,671

2724 NYS Rte 16 N, Olean-Town, NY 14760 - Image 1
2724 NYS Rte 16 N, Olean-Town, NY 14760 - Image 2
Single Family Home for sale in Olean-Town, NY for $279,000 with 1 bedroom. This 5,778 square foot home was built in 1965.

This is a rare chance to own a 14-unit motel that’s been converted into rental apartments. Situated in a highly desirable location, this property offers investors a stable income stream with significant upside potential. It has a prime Location: Positioned near major highways, shopping centers, and dining options, making it an attractive choice for tenants seeking convenience. A spacious parking lot ensures every tenant has access to off-street parking, a rare and desirable feature. Located in an area with high rental demand and low vacancy rates. Recent updates to the property’s plumbing, electrical, and roofing systems mean minimal maintenance costs. This is not just a property, but a turnkey investment opportunity Professionally Managed with established cash flow. With the option to increase rental rates or even explore short-term rental models like Airbnb, there are multiple paths to enhancing the property’s profitability.

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Single Family Active

Price

$ 279,000

Bedrooms

1

Property Type

Single Family

Taxes

$ 3,539

Style

Commercial

Year Built

1965

Town/City

Olean-Town

County/Region

CATTARAUGUS

MLS | Web ID

B1566944

Features
General
Sewer SepticTank
Heating Gas Baseboard HotWater
Utilities CableAvailable HighSpeedInternetAvailable
Possession CloseOfEscrow
Roof Asphalt Shingle
Appliances FreeStandingRange GasWaterHeater Microwave Oven Refrigerator SeeRemarks
Exterior Features BlacktopDriveway
Garage Spaces 0.0
Construction Materials Block Other Concrete SeeRemarks PEXPlumbing
School District Hinsdale
Year Built 1965
Electric CircuitBreakers
Stories 2
Township Not Applicable
Levels Two
Property SubType Commercial
Community Features Other SeeRemarks
County Cattaraugus
Property Type MultiFamily
Garage Y/N No
Rent Includes CommonAreaMaintenance Electricity Heat HotWater SnowRemoval TrashCollection Water
Status Active
High School Hinsdale Central
City Olean-Town
Senior Community Y/N No
High School District Hinsdale
NumberOfUnitsTotal 14
MLS Area Olean- Town-046600
Lot Size Units Acres
Waterfront Y/N No
Elementary School Other - See Remarks
Year Built Details Existing
Tax Annual Amount 3539.0
Middle/Junior High School Other - See Remarks
Property Condition Resale
Days on Market 0
Standard Status Active
Middle/Junior School District Hinsdale
Elementary School District Hinsdale
Tax Assessed Value 92040
TaxOtherAnnualAssessmentAmount 0.0
Property Sub Type Additional Commercial Other
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Interior
Basement None
Flooring LuxuryVinyl
Total Fireplaces 0
Total Stories 2
Basement (Y/N) No
Heating Y/N Yes
Window Features ThermalWindows
Fireplace Y/N No
Laundry Features CommonArea
Total Bedrooms 1
Main Level Bathrooms 0
Total Baths 0
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Exterior
Parking Features OneSpace Driveway NoGarage SharedDriveway
Lot Features CornerLot
Water Source Well
Building Area Total 5778.0
Lot Dimensions 124X205
Road Frontage Type MainThoroughfare
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Internal Only
Street Number 1 2724
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* Excluded Features
List By
Re/Max On Point

Broker

(716) 307-3727

Phone

Affordability Calculator

$1,966
Per Month
85%
15%
0%
Monthly Principal & Interest
$1,671
Monthly Property Taxes
$295
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 5.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4816115 Elementary School
4816114 Middle School
Hinsdale Central High School High School
Pricing History
DatePricePrice ChangeDescription
9/21/2024$279,000 Listed Price

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2724 NYS Rte 16 N, Olean-Town, NY, 14760 is a Single Family Home for sale at $279,000 with 5,778 sqft. 2724 NYS Rte 16 N has 1 bedrooms, 0.0 baths, and was built in 1965. The property's zip code is 14760 which is in Olean-Town, NY