947 N Union St, Olean, NY

House

For Sale

Listed price in listed location currency (USD).

$159,900

630

MLS® R1710917

Overview

Key Facts

Type Multi Family

Levels Residential

Size 3536 sqft

Garage

Taxes $4,536

Days Active 8

Lot Size 0.12 Acres

Approx. Age 1915

Avg. Price Per Sqft $45

MLS® Number R1710917

Property Address: 947 N Union St, Olean, NY, 14760-1436

Average square foot calculated using Size range provided by listing agent.

Description

THREE UNITS, THREE LONG-TERM TENANCIES, AND WOODWORK YOU HAVE TO SEE Some multi-family properties are bought for the spreadsheet alone. This one gives you both — a solid set of numbers and a building people actually want to live in. THE CONDITION The property presents as well maintained throughout — looked after rather than merely occupied. All three units are in solid rentable condition today, with incredible woodwork throughout. WHAT HAS ALREADY BEEN DONE NEW SEWER LINE FROM THE STREET. If you have owned rental property in an older neighborhood, you know exactly what this is worth. It is among the most expensive and disruptive repairs a building of this era can face, and it is done. UPDATED ELECTRICAL PANELS. UTILITIES LARGELY SEPARATED by unit, keeping operating costs predictable and accountability clear. THE LAYOUT Three units, six bedrooms, and three baths in total. Each unit has its own porch—private outdoor space for each tenancy—and the upstairs unit has two. The front lower unit has its own laundry. The upper and rear units share a laundry area in the basement. THE INCOME PICTURE All three units are occupied under long-term tenancies, so the property produces income from day one rather than after a lease-up period. Current rents sit below market. That is deliberate, not an oversight: the income has room to move for a buyer who wants it, and the in-place figures are conservative rather than stretched. PLEASE NOTE, in the interest of a clean transaction: there is no off-street parking, and the owner currently pays electric and water for the lower front and rear units. AVAILABLE AS A PACKAGE These three units may be purchased together with a nearby duplex held by the same owner — a combined five units in a single transaction, with one seller and one closing timeline. Each property is a one- to four-unit residential building and can also be purchased individually. Buyers should confirm financing structure with their own lender.

MLS® NumberR1710917

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1915

BasementDirt Floor, Full

DrivewayNo Driveway, On Street

Garage Spaces

HeatGas, Forced Air, Wall Furnace

A/C

Extras

Map

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