A true one-of-a-kind property with an incredible opportunity!  The property consists of a spacious 2,976 sq. ft. home with 4 bedrooms, 2 full bathrooms, and multiple outbuildings all sitting on an incredible 38.5 acres in Olean NY, Cattaraugus County.  The home's first story has a large open kitchen, 1 bedroom, 1 full bathroom, 2 living rooms, and 2 mudroom entrances.  The second story has 3 bedrooms, 1 full bathroom, and a living room area.  The attic is unfinished but big enough to create additional living space.  The walk-in basement is unfinished but holds the furnace, hot water tank, and plenty of room for storage.  The house has a well but also has connectivity to the Olean City water.  The house was built with the city water, and the barn was built with the well.  The outbuildings include a 100 x 40 Quonset Barn with concrete floor which is in immaculate condition, a 40 x 30 stable barn which has a workshop and 4 stalls for horses or other animals, and a 40 x 25 workshop/storage area.  All the outbuildings have electric. The farmland, approximately 30 acres, is currently leased and can continue to be leased if the new owner desires.  The special circumstance of this property is that it comes with free gas off leased gas wells not from the property.  The new owner will sign off on receiving the free gas at closing.  The property is located in a flood zone as it sits across the street from the Allegheny River.  This would require flood insurance if it is going to be financed.  The property has 1,140 feet of road frontage.  The driveway is shared by the Olean City Water Department which is the neighbor to the west.  The property has so much potential to either be a homestead, a small farm, or a recreational paradise.  Located just minutes outside of Olean for all the necessities.  Don't let this opportunity get away!  Surface rights convey. Located approximately 3 minutes to downtown Olean NY, 27 minutes from Salamanca NY, 35 minutes from Ellicottville NY and Rushford NY, 1 hour 28 minutes to Buffalo NY, and 1 hour 50 minutes to Rochester NY. Schedule a Private Showing

Listing courtesy of NYSAMLS / Landquest Inc.

Last checked: Checking… • Last updated Jun 6, 2025 • Source: NYSAMLS

MLS# S1612895 — Report a problem