34 Olean Street
About This Property
If you are looking for homes to rehab, this property could be the one for you. There are two homes located on the corner of Olean Street and Mechanic Street. The home on Olean Street has 3 bedrooms, 1 full bath and over 1,100 sq. ft. The second home is located on the corner of Mechanic Street and has 3 bedrooms, 1 full bath and over 1,600 sq. ft. Both homes have access to public water and the Village of Angelica's electric.
The property and homes are being sold as-is. Located within walking distance to the village.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 7, 2025 | Sold | ||
| Sold | |||
| Jul 7, 2025 | Listed by Landquest Inc. | $39,900 | |
| Listed by Landquest Inc. | |||
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Great opportunity to own 2 homes on a corner lot bordering Angelica Creek in Angelica NY, Allegany County.
Located at the corner of Olean Street and Mechanic Street in the Village of Angelica, this property features two homes on a spacious, level lot with direct frontage along Angelica Creek. It’s an ideal opportunity for investors, builders, or those looking to take on a renovation project.
The home on Olean Street has been completely gutted down to the studs with exposed framing, stripped walls, and sections of flooring removed offering a blank canvas to rebuild from the ground up. The Mechanic Street home offers over 1,600 sq. ft. with 3 bedrooms and 1 full bath. It has not been occupied for some time and will require repairs and updating throughout.
The corner lot is a standout feature offering room for outdoor use, future development, or added parking. Both homes have access to natural gas, public water and the Village of Angelica’s electric. Existing survey conveys. The lot size is 0.97 acres.
Within walking distance to the village center, this as-is property has the location, lot size, and flexibility to become a rewarding project for the right buyer.
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| Oct 10, 2022 | Sold | ||
| Sold | |||
| Jun 16, 2022 | Listed by Landquest Inc. | $49,900 | |
| Listed by Landquest Inc. | |||
| Jun 12, 2003 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017