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38-40 Lambert Avenue, 
Fredonia, NY 14063

$224,900


8

Beds


4

Baths


2,312

Sq Ft


Multi-Family

Active

Listed by

Tyler Ehde

Carol Klein

Century 21 North East

716-689-4000

Last updated:

July 29, 2026, 03:30 PM

MLS#

B1698996

Source:

NY GENRIS

About This Home

38-40 Lambert Avenue

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.

Home Facts

Multi-Family

4 Baths

8 Bedrooms

Built in 1872

Price Summary

224,900

$97 per Sq. Ft.

MLS #:

B1698996

Last Updated:

July 29, 2026, 03:30 PM

Added:

14 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

8

Bathrooms

Total Bathrooms:

4

Full Bathrooms:

3

Interior

Living Area:

2,312 Sq. Ft.


Structure

Structure

Architectural Style:

Triplex

Building Area:

2,312 Sq. Ft.

Year Built:

1872


Lot

Lot Size (Sq. Ft):

20,862


Finances & Disclosures

Finances

Price:

$224,900

Price per Sq. Ft:

$97 per Sq. Ft.

Source:NY GENRIS
The information being provided by New York State Alliance Of Mlss is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information is deemed reliable but not guaranteed and should therefore be independently verified. © 2026 New York State Alliance Of Mlss All rights reserved.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.