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    1507 W State St Olean, NY 14760

    For Sale
    $179,000

    Well-maintained three-unit apartment building in Olean, New York.

    Lot size:
    0.20 Acres

    Property Features for 1507 W State St

    General Information

    Lot size
    0.20 Acres

    Building Details

    Year built
    1910

    Source: 3D Real Estate LLC Agent James Dwaileebe

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Olean Multifamily Property for Sale

    This well-maintained three-unit multifamily apartment building is centrally located in Olean, New York. The property features two lower apartments, each with one bedroom and one bathroom. The upper apartment includes two bedrooms, one bathroom, and an office that could serve as a third bedroom. The building has hardwood floors throughout and high ceilings, with updated electrical systems. Each apartment is equipped with a washer and dryer. Situated on a double lot, the property is flanked by two established commercial businesses. The lot size allows for the potential addition of a third or fourth unit. This turnkey apartment building is presented as an income-generating opportunity. The owner is selling due to advanced age.
    Location Intelligence

    Current Use by Public Records

    Cityline Sales & Services Garden Center

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Olean
    County
    Cattaraugus
    State
    New York
    Longitude
    -78.4025076
    Latitude
    42.0729252

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    FAQs

    What type of property is this?
    Triplex - Well-maintained three-unit apartment building in Olean, New York.
    Where is this triplex located?
    The property is located at 1507 W State St Olean, NY.
    What is the asking price?
    The asking price for this property is $179,000.
    What are key features of this property?
    This property features: - Turnkey multi-family property with instant income potential.; - Double lot with potential to add 3rd or 4th unit.; - Three apartments: two 1-bedroom units (always filled) and one 2-bedroom unit with office (potential 3rd bedroom).
    (716) 307-2300
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    1507 W State St Olean, NY 14760
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    Olean, NY 14760
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1507 W State St Olean, NY 14760
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