38 Lambert Avenue
Fredonia, NY, 14063 $ 224,900
Bedrooms8 Baths3.1 Sq 2,312 Monthly Estimate*
$ 1,420
for $224,900 with 8 bedrooms and 3 full baths, 1 half bath. This 2,312 square foot home was built in 1872 on a lot size of 0.4789.
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. 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. Showings begin immediately, offers will be reviewed as they are received.
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FeaturesInteriorInterior Amenities CeilingFans BedroomOnMainLevel
Basement None
Flooring Carpet Laminate Resilient Varies
Total Fireplaces 0
Total Stories 1
Basement (Y/N) No
Heating Y/N Yes
Fireplace Y/N No
Half Baths 1
Total Bedrooms 8
Below Grade Finished Area 1000.0
Main Level Bathrooms 0
Total Baths 4
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GeneralSewer Connected
Heating Gas Baseboard ForcedAir WallFurnace
Utilities ElectricityConnected SewerConnected WaterConnected
Possession CloseOfEscrow
Appliances GasWaterHeater
Garage Spaces 0.0
Patio/Porch Features Patio
Architectural Style Triplex
Construction Materials Brick VinylSiding
School District Fredonia
Year Built 1872
Stories Count 1
Township Fredonia-Village
Levels One
Property Subtype MultiFamily
Accessibility AccessibleBedroom
County Chautauqua
Property Type Residential
Rent Includes Water
Full Baths 3
Status Active
City Pomfret
Senior Community Y/N No
High School District Fredonia
Number Of Units Total 3
MLS Area Fredonia-Village-065801
Lot Size Units Acres
Lot Size Square Feet 20862.0
Year Built Details Existing
Tax Annual Amount 5277.0
Property Condition Resale
Standard Status Active
Middle/Junior School District Fredonia
Elementary School District Fredonia
Tax Assessed Value 21180
TaxOtherAnnualAssessmentAmount 0.0
Tax Lot 13
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ExteriorExterior Amenities Patio
Parking Features Gravel ParkingAvailable TwoOrMoreSpaces
Lot Features Rectangular RectangularLot ResidentialLot
Water Source Connected Public
Lot Size Area 0.4789
Foundation Details Slab
Building Area Total 2312.0
Lot Dimensions 114X183
Lot Size Acres 0.4789
Waterfront Y/N No
Number of Separate Gas Meters 3
Number of Separate Electric Meters 3
Road Frontage Type CityStreet
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* Excluded FeaturesList ByCentury 21 North EastBroker
Affordability Calculator
- Monthly Principal & Interest
- $1,420
- Monthly Property Taxes
- $440
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Fredonia, NY
Average List Price $223,214
Percent of Sale Price 1%
About Fredonia, NY 14,919 Population
2% Since 2002
$ 53,275 Median Income
29.92 Median Age
23% Households with Children
Trends Information provided by ATTOM Data Solutions.
3040526 Elementary School
3040309 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 7/16/2026 | $224,900 | | Listed Price |