Custom Modern Home With Lake Access on Over 4 Acres in Perth, ON!! Assigned

  • $399,999
  • 4 beds
  • 3 baths
  • 1,500-1,999 sqft

  This home is an absolute jewel for any Investor ready to undertake the project. A Scandinavian design, this 3-storey house on posts, with 4 bedrooms, and 3 bathrooms, has excellent ARV potential as a home but is also suited as a short-term rental. Located on a large, forested lot, 8 minutes from Perth makes it an ideal retreat due to its immersion in nature as well as it’s accessibility to urban hubs (Ottawa and Kingston are only 1 hour away). There is access to the lake only a 3-minute walk down the road where a small dock space allows for canoeing, kayaking or small boat use. Don’t miss out on the incredible potential this property offers!

We are selling our assignable purchase contract.

Closing is August 3rd, 2021
**As per our APS, The Seller is permitted to extend or shorten the closing 1 time by up to 30 calendar days upon giving proper notice to the Buyer.**
WHAT are the options?
This property is on a 2.37 acre lot but comes with a connecting lot of 1.83 acres. This connecting lot is a private road leading to homes at the end of Darou Dr. Not only does this property sit on a beautiful, forested 2.37 acres, it is also only a 3-minute walk to the lake and private, community dock. Not only is this property on a beautiful lake, but it is also part of the Maple Glen, historic community. Read more about the community and lake HERE.Option 1: Renovate the existing property and sell as a single-family home.

Option 2: Single-family flip + sever off half of the 2.37 acre lot as the property is situated perfectly on the right half of the lot (Buyer to verify). This option would allow for 2 lots at over 1 acre each as the connected pin is only for the road. A 0.60 acre lot recently sold for $175,000 and we believe that with a 1.1 acre severed lot, the Buyer could either build a new property or sell of the new, vacant lot (Buyer to verify)

Option 3: Renovate and rent out as a short-term, cottage getaway. 

Option 4: Renovate and rent + sever half. This option would allow the Buyer to profit from both the rental as well as a possible new build or vacant lot sale (Buyer to verify)

PROPERTY FEATURES

  • 3-minute walk to the Otty lake community access. As a community member you have one dock space for a small boat or canoe for approximately $120/year (as per Seller)
    • The fee is due in April every year and the Seller will be paying this year’s fee before closing
  • 4 bedrooms
    • Master suite is located on the 3rd floor loft and includes and ensuite with a soaker tub, standing shower, and sauna
    • Flooring in one bedroom will need to be finished (Seller will be leaving flooring to finish)
  • 3 bathrooms (2 full, 1 half)
  • Built in 1987
  • Above grade: 1,500-1,999 sq ft
  • Basement: 0-399 sq ft (only accessible through outside, see HERE)
  • 3rd floor loft contains a small seating area and master suite
  • Large, eat-in kitchen
  • Atrium walkway on side of house
  • Large terrace off of living room
  • Balcony below 2nd level terrace
  • Balcony off of master suite
  • Flooring is Epay hardwood and tile (as per Seller)
  • Large windows
  • 2 breaker panels
    • Large, 100 AMP breaker panel in basement utility room
    • Small breaker panel in pantry cupboard in kitchen
  • Electric baseboard heating
  • Several ductless mini splits throughout to use for AC
    • These work as an energy efficient heat exchanger in the winter to heat while keeping energy costs lower than baseboard heaters
  • Well
  • Septic (original from 1987)
    • Septic was last pumped in late Summer of 2018 (as per Seller)
  • Metal roof is less than 10-years-old (as per Seller)
  • Seller previously installed an invisible fence for their dogs. They have stated that they can remove the fence or leave the two collars behind for the next Buyer
  • 1-car parking under deck
  • 10+ parking spaces
  • Lot size: 300.00 ft x N/A
  • Site area: 2.37 acres + 1.83 acres
  • Zoning: RU-21 (see HERE)

PROPERTY NEEDS

  • Cosmetic updating 
  • Exterior updating and maintenance

 

Please click HERE for more information and pictures.

Price:
$399,999
Address:
Otty Way & Darou Dr
Perth, ON
Square Feet:
1,500-1,999
Lot Size:
4.2 Acres
Bedrooms:
4
Bathrooms:
3
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1987

Call (647) 400-2093 for more details

Property Location