707 W Sullivan St

Olean NY 14760

3744 sq. ft.

7500 sq. ft.

Multi-Family

Currently for sale - view listing

Overview

INVESTORS, TAKE NOTICE! Here's your opportunity to own a 4-unit income-producing property with immediate rental income and excellent potential for increased cash flow! Three of the four apartments are currently occupied by responsible tenants, including one 2-bedroom and two 1-bedroom units. Since purchasing the property in 2018, the owner has made interior updates to each of these apartments, making this an attractive addition to your investment portfolio! The fourth unit, a spacious 2-bedroom apartment, has been completely gutted to the studs and is ready for its transformation! Even better, the majority of the materials needed to complete the renovation are already included, such as flooring, cabinets, bathroom and kitchen fixtures and appliances, lighting, and more! The seller had plans to finish the project but has since relocated, leaving the next owner an excellent opportunity to build equity and add another income stream without starting from scratch. With room for rental increases and the potential to generate income from all four units, there's plenty of upside for a savvy investor! The property also offers a large backyard with space for tenant parking and outdoor enjoyment. Whether you're looking to expand your rental portfolio or invest in a property with value-add potential, this one deserves a closer look! Please allow a minimum of 48 hours' notice for all showings to respect the privacy of the current tenants.

Features

6 bedrooms

4 bathrooms

3744 sq. ft. floor area

7500 sq. ft. lot size

Multi-Family

Property history for 707 W Sullivan St

2018

Sold

$30,000

08 Nov 2018 by Claudia Attard-Keary, of Chamberlain Home Realty

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