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 Details
Price:
$279,000
MLS #:
B1566944
Status:
Active
Beds:
1
Baths:
0
Address:
2724 NYS Rte 16 N
Type:
Single Family
Subtype:
Commercial
Neighborhood:
Olean- Town-046600
City:
Olean-Town
Listed Date:
Sep 21, 2024
State:
NY
Finished Sq Ft:
5,778
Total Sq Ft:
5,778
ZIP:
14760
Year Built:
1965
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Schools
School District:
Hinsdale
Elementary School:
Other – See Remarks
Middle School:
Other – See Remarks
High School:
Hinsdale Central
Interior
Appliances
Free Standing Range, Gas Water Heater, Microwave, Oven, Refrigerator, See Remarks
Flooring
Luxury Vinyl
Heating
Gas, Baseboard, Hot Water
Laundry Features
Common Area
Exterior
Community Features
Other, See Remarks
Construction Materials
Block, Other, Concrete, See Remarks, P E X Plumbing
Exterior Features
Blacktop Driveway
Parking Features
One Space, Driveway, No Garage, Shared Driveway
Roof
Asphalt, Shingle
Financial
Taxes
$3,539
Map
Community
- Address2724 NYS Rte 16 N Olean-Town NY
- CityOlean-Town
- CountyCattaraugus
- Zip Code14760
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Listing courtesy of RE/MAX On Point,
© 2024 New York State Alliance of MLS’s NYSAMLS. Information deemed reliable, but not guaranteed. This site was last updated 2024-09-21.
© 2024 New York State Alliance of MLS’s NYSAMLS. Information deemed reliable, but not guaranteed. This site was last updated 2024-09-21.
2724 NYS Rte 16 N
Olean-Town, NY
LIGHTBOX-IMAGES