Legal 2-family Colonial in the heart of Riverhead, fully renovated in 2023! This fantastic income-producing property features two separate units with individual electric panels, electric heat, and central air conditioning. Current rent roll reflects strong income potential, with the upper unit at $1,950/month and the lower unit at $2,850/month. Situated on a .22 acre lot and the property includes a detached 2-car garage and a full, well-insulated basement offering additional storage space. Updated systems and modern finishes throughout make this a turnkey opportunity for investors or end-users seeking rental income. Conveniently located off Elton Road near shopping, dining, and major roadways. A rare opportunity to own a legal 2-family in Suffolk County.
630 Northville Turnpike, Riverhead, NY, 11901
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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