About this home

Exceptional turnkey investment opportunity in the heart of Fredonia! Perfectly positioned at 38 Lambert Ave, this fully furnished three-unit property is located less than a five-minute drive from SUNY Fredonia, making it an ideal addition to any investor's portfolio. With strong rental demand driven by the nearby university, this property offers outstanding income potential from day one. The building features a spacious mix of units, including a 4-bedroom, 1.5-bath, 3-bedroom, 1-bath, and 1-bedroom, 1-bath apartment, providing flexibility to attract a variety of tenants. The 3-bedroom unit is already generating $2,000 per month in rental income, while the remaining units offer excellent opportunity for additional cash flow. The 4 bedroom unit currently has 3 bedrooms rented out, and the 4th will be rented soon. Each apartment is separately metered for gas and electric, allowing tenants to pay their own utilities and helping reduce owner expenses. Best of all, this is a truly turnkey investment-all furniture, furnishings, and contents are included in the sale, allowing the next owner to step in and begin operating immediately. Whether you're looking to expand your investment portfolio, capitalize on the consistent student rental market, or own a low-maintenance income-producing property in a prime location, 38 Lambert Ave checks all the boxes. Don't miss this rare opportunity to own a fully equipped multi-family property just minutes from campus, downtown Fredonia, restaurants, shopping, and local amenities. $5K+ IN POTENTIAL GROSS RENTAL INCOME!! Showings begin immediately, offers will be reviewed as they are received.

Facts and features

Schools

• Wheelock Primary School

  elementary · K · 0.5 mi

• Fredonia Middle School

  elementary · 5-8 · 1.2 mi

  8

• Fredonia High School

  high · 9-12 · 1.2 mi

  7

• Central Christian Academy

  elementary · K-12 · 1.9 mi

• Fredonia Elementary School

  elementary · 1-4 · 1.2 mi

  3

• Northern Chautauqua Catholic School

  elementary · K-8 · 2.8 mi

Price history

• Aug 6, 2026 · Price Changed$209,900
• Aug 3, 2026 · Price Changed$219,900
• Jul 16, 2026 · Listed$224,900
• Jan 1, 2024 · Listing Removed$229,000
• Dec 22, 2023 · Listing Removed$229,000
• Sep 16, 2023 · Price Changed$229,000
• Sep 1, 2023 · Listed$249,990

Where it is