Welcome to 37 Lake Ave in Riverhead, a unique opportunity located within the Riverside Revitalization Project, RO-2 Overlay District. This property currently features a cozy 2-bedroom, 1-bathroom home offering comfortable living while presenting exceptional potential for future development.
The existing home includes two well-sized bedrooms, a full bathroom, and a functional living space, making it suitable for immediate occupancy or rental. However, the true value lies in the property’s investment and redevelopment potential.
Riverside is undergoing an exciting transformation, and this parcel is positioned at the center of that growth. A new sewer line installation planned for next year is expected to support expanded development and increased property value throughout the area.
Preliminary concepts for the site suggest the potential for up to 7 residential apartments and 1 commercial unit, making it an attractive opportunity for investors, developers, or buyers looking to secure property in a growing community.
Don’t miss the chance to own property in one of Riverhead’s emerging neighborhoods with promising long-term potential. Explore the possibilities at 37 Lake Ave today.
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Listing Snapshot
Price
$549,000
Days On Site
1 Day
Bedrooms
2
Inside Area (SqFt)
916 sqft
Total Baths
1
Full Baths
1
Partial Baths
N/A
Lot Size
0.27 Acres
Year Built
1960
MLS® Number
965279
Status
Active
Property Tax
$3,780
HOA/Condo/Coop Fees
N/A
Sq Ft Source
N/A
Friends & Family
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Recent Activity
yesterday
Listing first seen on site
yesterday
Listing updated with changes from the MLS®
General Features
Acres
0.27
Cross Street
NY-24
Garage
Yes
Garage Spaces
1
Parking
Detached
Property Sub Type
Single Family Residence
Sewer
Cesspool
Style
Ranch
Utilities
Natural Gas AvailableElectricity ConnectedNatural Gas Connected
Water Source
Public
Interior Features
Appliances
Gas RangeRefrigerator
Basement
Full
Cooling
Wall/Window Unit(s)
Flooring
Hardwood
Heating
Forced AirOil
Interior
Eat-in Kitchen
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Exterior Features
Construction Details
Frame
Community Features
School District
Riverhead
Schools
School District
Riverhead
Elementary School
Pulaski Street Elementary School
Middle School
Riverhead Middle School
High School
Riverhead Senior High School
Listing courtesy of Douglas Elliman Real Estate amanda.lin@elliman.com
Based on information submitted to the MLS GRID as of 2026-03-14 07:22 AM EDT.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied
Open House Information is subject to change without notice. All information should be independently reviewed
and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Neighborhood & Commute
Source: Walkscore
Disclosure: Community information and market data powered by Constellation Data Labs. Information is deemed reliable but not guaranteed.
