4994 w lake road

Exceptional investment opportunity just north of Chautauqua Institution's Elm Gate. This unique historic multi-family property offers character, flexibility, and tremendous income potential in one of the most desirable locations in the Chautauqua Lake region. Originally constructed as a sawmill, the property has been transformed into a versatile mixed-use residential investment while retaining many of its original architectural details and historic charm. Whether you are seeking an owner-occupied investment, short-term rental opportunity, multi-generational living arrangement, or an income-producing property with future expansion potential, this offering deserves your attention. The primary residential unit is a spacious two-story apartment featuring three bedrooms, two full bathrooms, an attached two-car garage, loft area, and a comfortable sitting room that leads to a private patio. With generous living space and unique character throughout, this unit offers the feel of a single-family home while providing excellent rental potential. The second residential unit is a charming one-bedroom apartment featuring an open-concept living area that is ideal for long-term tenants, short-term rentals, guests, or extended family members. Both units share access to a massive covered porch that creates a welcoming outdoor space and adds to the property's timeless appeal. One of the most exciting features of this property is the expansive open workshop area. Showcasing the original second-floor catwalk from the building's sawmill days, this remarkable space offers endless possibilities. Continue utilizing it as a workshop, studio, storage facility, event space, or hobby area, or explore the potential for conversion into a future third residential unit, subject to municipal approvals and zoning requirements. Located just moments from Chautauqua Institution, Chautauqua Lake, Bemus Point, restaurants, entertainment, and year-round attractions, this property is perfectly positioned to capitalize on the area's strong tourism market and rental demand. Seller is a NYS Lic RE Salesperson