$166,000
$184,900
10.2%For more information regarding the value of a property, please contact us for a free consultation.
7 Beds
2 Baths
2,912 SqFt
SOLD DATE : 01/23/2024
Key Details
Sold Price $166,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,912 sqft
Price per Sqft $57
MLS Listing ID R1481900
Sold Date 01/23/24
Style Duplex
Bedrooms 7
Full Baths 2
Construction Status Existing
HOA Y/N No
Year Built 1900
Annual Tax Amount $4,225
Lot Size 0.298 Acres
Acres 0.2985
Lot Dimensions 66X197
Property Description
Great investment opportunity! This 7 bedroom home has been a student rental for many years - it can be used as a single 7 bedroom home or as a 3 and 4 bedroom duplex by simply closing two doors. There are 4 bedrooms downstairs with a kitchen, full bath, dining room and living room. The upstairs unit has 3 bedrooms, a full bath, kitchen and living room. The mechanical systems and a coin operated washer & dryer are in the basement. A large driveway provides plenty of parking and there is also a two car detached garage as well as a garden shed for lots of storage. Current rents are $2800/student/semester for a yearly gross income of $39,200. Most windows are thermopane, new metal roof in 2016, most of the flooring and carpeting was replaced in 2021, new hot water tank in 2023, a regularly serviced Dunkirk boiler with hot water radiators provides reliable heat. In order to facilitate a quick sale, this property is being listed well under its current income based market value of $255,000! This home is normally fully rented each school year. Currently, there are 6 leases signed for Fall 2023 and 5 for Spring 2024. Don't miss this great deal on a proven money maker!
Location
State NY
County Chautauqua
Area Fredonia-Village-065801
Direction From Route 20 in Fredonia, turn north onto Center Street. Go through two stop signs, the home will be on your left, across from the park.
Rooms
Basement Partial, Sump Pump
Interior
Interior Features Natural Woodwork
Heating Gas, Hot Water
Flooring Carpet, Varies, Vinyl
Fireplace No
Window Features Thermal Windows
Appliance Gas Water Heater
Laundry Common Area
Exterior
Exterior Feature Fence
Garage Spaces 2.0
Fence Partial
Utilities Available Cable Available, High Speed Internet Available, Sewer Connected, Water Connected
Roof Type Metal
Garage Yes
Building
Story 2
Foundation Stone
Sewer Connected
Water Connected, Public
Architectural Style Duplex
Level or Stories Two
Structure Type Vinyl Siding,PEX Plumbing
Construction Status Existing
Schools
School District Fredonia
Others
Senior Community No
Tax ID 065801-113-014-0002-025-000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash
Special Listing Condition Standard
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Bought with Brick Nest Realty
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