Courtesy: RE/MAX On Point
716-373-7325
Positioned on 3.73 acres, 2840–2850 McDuffy Road presents a compelling opportunity to acquire a fully rented, professionally managed residential investment featuring an apartment complex and a single-family home. Generating more than $7,500 in monthly rental revenue, this turnkey operation reflects the owners’ substantial efforts to improve the property and establish a reputable apartment community. Management by On Point Property Management provides established operational support, while numerous capital improvements strengthen the property’s appeal. Updates include various remodeled studio units, all-new appliances in the studio units, a newer hot water system, a Health Department-approved water treatment system, and landlord-controlled thermostats. The single-family home and garage feature new roofs, and the apartment building’s roof is less than 10 years old. Common coin-operated laundry adds convenience for residents and an additional potential revenue source for ownership. With full occupancy, established rental income, and meaningful improvements already completed, this offering deserves serious consideration from investors seeking to expand their residential portfolio. Financial records are available upon request for review of income, expenses, and operating performance. The single-family home and apartment complex must be purchased together, providing one cohesive investment opportunity with established management and income in place. Current rents are as follows: Unit #1: $800/month. Unit #2: $700/month. Unit #3: $850/month. Unit #4: $700/month. Unit #5: $700/month. Unit #6: $800/month. Unit #7: $700/month. Unit #8: $600/month. Unit #9: $700/month. Single Family Home (2840 McDuffy Road): $1,000/month plus utilities. Taxes and assessed value include both properties.
Olean is located in New York. Olean, New York has a population of 13,941. Olean is more family-centric than the surrounding county with 32.02% of the households containing married families with children. The county average for households married with children is 27%.
The median household income in Olean, New York is $43,345. The median household income for the surrounding county is $53,537 compared to the national median of $69,021. The median age of people living in Olean is 38.9 years.
The average high temperature in July is 79.5 degrees, with an average low temperature in January of 13.4 degrees. The average rainfall is approximately 42.8 inches per year, with 75.6 inches of snow per year.
