2724 Nys Rte 16 N Olean Town, NY 14760
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.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyCattaraugus
- Taxes$3,539
- HOA/Condo/Coop Fees$0
- Days on Site28 Days
- MLS StatusPending
- MLS ID NumberB1566944
- Home Size Source Public Records
- Year Built1965
- Lot Size Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Construction BlockOtherConcreteSee Remarks
- Parking One SpaceDrivewayNo GarageShared Driveway
- Sewer Septic Tank
- Electric Circuit Breakers
- Basement None
- Number of Stories 222
- Water Well
- Cross Street Kansas Ave
- Garage Spaces 0
- Utilities Cable Available
- Listing Conditions Standard
Interior Features
- Heating GasBaseboardHot Water
- Appliances Free Standing RangeGas Water HeaterMicrowaveOvenRefrigeratorSee Remarks
- Flooring Luxury Vinyl
- Fireplaces 0
- Laundry Features Common Area
- Window Features Thermal Windows
- Fireplace No
Exterior Features
- Roof AsphaltShingle
- Waterfront Property No
- Exterior Blacktop Driveway
- Lot Corner Lot
Community Features
- Township Not Applicable
- Community Features OtherSee Remarks
- Senior Community No
- MLS Area Olean- Town-046600