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.
Closed
$161,000
312 N 3rd St, Olean, NY 14760
8beds
5,616sqft
Quadruplex, Multi Family
Built in 1910
-- sqft lot
$159,700 Zestimate®
$29/sqft
$2,240 Estimated rent
Home value
$159,700
$139,000 - $184,000
$2,240/mo
Zestimate® history
Owner options
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$2,240/mo
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$2,240/mo
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$1,009/mo
Est. payment
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$1,009/mo
Est. payment
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List your homeWhat's special
Off-street parkingFour spacious two-bedroom units
Zillow last checked:
Listing updated:
Listed by:
Paul Pezzimenti 716-378-7039,
Howard Hanna Professionals - Olean
Bought with:
Regis Handley, 10301215129
Howard Hanna Professionals - Olean
Source: NYSAMLSs,MLS#: R1657969
Originating MLS: Chautauqua-Cattaraugus
Originating MLS: Chautauqua-CattaraugusFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Gas, Forced Air
Appliances
- Included: Gas Water Heater
- Laundry: Washer Hookup
Features
- Ceiling Fan(s)
- Flooring: Carpet, Hardwood, Laminate, Varies
- Basement: Full
- Has fireplace: No
Interior area
- Total structure area: 5,616
- Total interior livable area: 5,616 sqft
Property
Parking
- Parking features: Common, Parking Available, Two or More Spaces
Features
- Levels: Two
- Stories: 2
Lot
- Size: 8,250 sqft
- Dimensions: 55 x 150
- Features: Rectangular, Rectangular Lot, Residential Lot
Details
- Parcel number: 04120009405700050090000000
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Fourplex
- Property subtype: Quadruplex, Multi Family
Materials
- Composite Siding, Copper Plumbing, PEX Plumbing
- Foundation: Block, Stone
- Roof: Asphalt
Condition
- Resale
- Year built: 1910
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Connected
- Water: Connected, Public
- Utilities for property: Cable Available, Electricity Connected, High Speed Internet Available, Sewer Connected, Water Connected
Community & neighborhood
Location
- Region: Olean
Other
Other facts
- Listing terms: Cash,FHA
Price history
| Date | Event | Price |
|---|---|---|
| 4/27/2026 | Sold | $161,000+15.1%$29/sqft |
Source:  NYSAMLSs #R1657969 Report a problem | ||
| 1/29/2026 | Pending sale | $139,900$25/sqft |
Source: NYSAMLSs #R1657969 Report a problem | ||
| 1/13/2026 | Listed for sale | $139,900$25/sqft |
Source: NYSAMLSs #R1657969 Report a problem | ||
| 9/7/2018 | Listing removed | $500 |
Source: Kenneth Bailey #R1088567 Report a problem | ||
| 9/5/2018 | Listed for rent | $500 |
Source: Kenneth Bailey #R1088567 Report a problem | ||
| 1/17/2018 | Listing removed | $500 |
Source: Kenneth Bailey #R1088567 Report a problem | ||
| 11/28/2017 | Listed for rent | $500 |
Source: Real Estate Pros & More #R1088567 Report a problem | ||
Public tax history
Tax history is unavailable.
Neighborhood: 14760
Nearby schools
GreatSchools rating
- 4/10Olean Middle SchoolGrades: 3-8Distance: 0.2 mi
- 5/10Olean Senior High SchoolGrades: 8-12Distance: 0.1 mi
- 2/10Washington West Elementary SchoolGrades: PK-3Distance: 0.8 mi
Schools provided by the listing agent
- Elementary: Washington West Elementary
- Middle: Olean Middle
- High: Olean Senior High
- District: Olean
Source: NYSAMLSs. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
- New York
- Cattaraugus County
- Olean
- 14760
- 312 N 3rd St
Nearby cities
Nearby neighborhoods
Nearby zip codes
Other Olean Topics
