For Sale
$189,000

514 State StOlean, NY 14760

Six-Unit Commercial/Residential Building

Overview

Added:
Feb 3
Days on market:
61
This exceptional six-unit property at 514 W State St, Olean, NY presents a compelling investment opportunity. Boasting a total of 9,180 square feet on a 0.16-acre lot, this building offers a unique blend of commercial and residential income streams. Two street-level commercial spaces are available, with one currently occupied, providing immediate rental income. The upper floors house four occupied residential apartments, totaling 3,060 square feet. The apartment layout includes one two-bedroom, one-bathroom unit and three one-bedroom, one-bathroom units. The building benefits from a recently installed roof (2022) and some newer windows, minimizing immediate maintenance concerns. Off-street parking is provided for three to four vehicles in the rear of the building. Its highly visible location on West State Street ensures excellent exposure for any commercial tenant. This property is priced at $189,000 and offers a rare chance to own a mixed-use building with established rental income and significant commercial potential. The substantial square footage and existing occupancy make this an attractive proposition for investors seeking a strong return on investment. The combination of commercial and residential units provides diversification and stability, making this a truly unique opportunity in the Olean market.

Property Details for 514 State St

Property type
Apartment buildings
Square Feet
9,180 SF
Year Built
1910
Lot Size (sq. ft)
6,970 SF

Location Insight

City
Olean
County
Cattaraugus
State
New York
Latitude
42.07779
Longitude
-78.43591
514 State St, Olean, New York

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514 State St
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