$139,900

312 North 3rd Street, Olean, NY 14760

  • 8 beds |
  • 4 baths |
  • 5,616 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1910
  • Property Lot Size Icon8,250sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $25/sqft
  • Property List Date Icon Listed 2 months ago

Property Description

Unlock a prime investment opportunity in the heart of the Oak Hill Historic District with this four-unit apartment building located directly across from Olean High School. This property features four spacious two-bedroom units and offers significant upside potential with current rents sitting well below market rates, allowing the next owner to capitalize on immediate value-add opportunities. A standout feature for investors is the fully separate utilities, with individual meters for gas, electricity, and water already in place to minimize owners' expenses. The building has been well-maintained overall, but its older roof presents a clear opportunity for capital improvements that align with potential future rent growth. Tenants will appreciate the convenience of off-street parking and the charm of private outdoor porch areas available with three of the units. The location offers the best of both worlds, situated on a quiet, historic street while remaining highly walkable to the shops, dining, and revitalization of downtown Olean.

Listing Status:
Pending
Date Added:
January 13, 2026
Data Last Updated:
April 4, 2026 at 2:16PM
Listing Office:
Howard Hanna Professionals - Olean : 716-372-1155
Listing Agent:
Paul Pezzimenti : 716-378-7039
MLS ID:
R1657969
  • General: Ceiling Fan(s)
  • Appliances: Gas Water Heater
  • Laundry: Washer Hookup
  • Basement: Full
  • Flooring: CarpetHardwoodLaminateVaries
  • Heating: GasForced Air
  • Fireplace: Fireplaces: 0
  • Style: Fourplex
  • Parking: CommonParking AvailableTwo or More Spaces
  • Roofing: Asphalt
  • General: Composite SidingCopper PlumbingPEX Plumbing2BlockStone
  • Road/Access: City Street
  • Originating MLS: NYS_CC
  • School District: Olean
  • County: Cattaraugus
  • Zoning: 041200-094-057-0005-009-000-0000
  • Utilities: Cable AvailableElectricity ConnectedHigh Speed Internet AvailableSewer ConnectedWater ConnectedCircuit Breakers
  • Water: ConnectedPublic
  • Sewer: Connected
  • Source: NYS_CC

This listing courtesy of Paul Pezzimenti , Howard Hanna Professionals - Olean

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

Ready to Start a VA Loan?

Get Started Veterans United Home LoansNMLS #1907  †
Get Prequalified »
Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

W

Washington West Elementary School

1626 Washington St, Olean, NY, 14760

Grades PK-3

0.83 miles away

O

Olean Senior High School

410 W Sullivan St, Olean, NY, 14760

Grades 8-12

0.05 miles away

O

Olean Senior High School

410 W Sullivan St, Olean, NY, 14760

Grades 8-12

0.05 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.