Waterfront Raised Bungalow Flip or Rental on Lake Simcoe in Georgina!! Assigned

  • $890,000

Location, location, location!! Situated directly on Lake Simcoe, with absolutely stunning views, this detached 3+2 bedroom, 2 bathroom bungalow with a detached garage, boathouse, and 2 sheds, already has a unit in the basement to maximize your profits! Looking for a cottage to invest in? This property, only an hour drive North of Toronto, is the place to do it! Properties in this area are rarely available for purchase and you don’t want to miss out on this incredible opportunity to own a waterfront property with a boathouse with hydro that is no longer permitted to be built (unless grandfathered in). Unlike properties east of the dividing river, this family home (owned by the same family since it was built) features a sandy, clear beach rather than rocks and reeds. Book rentals all year long in this incredible property with direct, private access to the lake! With minor cosmetic updating, this property could be an absolute dream, country retreat. Don’t miss out on this waterfront property in the highly sought after area of Georgina-Pefferlaw for under $1M!!

We are selling our assignable purchase contract.

Closing is September 27th, 2021
**As per our APS, the Seller has the option to extend the closing date by 30 days after giving proper notice to the Buyer.**

Please click HERE for more information and pictures.

Price:
$890,000
Address:
Hwy 48 & Holmes Point Rd
Pefferlaw, ON
Terms:
Assignment of Contract
Property Type:
Duplex

Additional Features

WHAT are the options with this property? Due to the separate units and boathouse, we believe this could be a great Airbnb option. Option 1: Flip Option 2: Rent out each unit separately as an Airbnb Option 3: Rent out units and convert the boathouse into a waterfront bunkie as an additional bedroom Option 4: Rent out the units to longterm renters Option 5: Live in one unit and Airbnb the other PROPERTY FEATURES This property is 2 separate units (no stairs connect the units). We do not know if it is a legal duplex. 3+2 bedrooms 2 full bathrooms Built in 1971 Above grade: 700-1099 sq ft (as per MPAC) We believe the sq ft is closer to 1099 sq ft Basement: 700-1099 sq ft (as per MPAC) The only part of the basement left to finish the small laundry room Ceiling height is 7.113 ft 4 separate entrances Walkout entrance to basement on both front and back of house One from driveway to kitchen of basement unit One from the lakeside yard to living room of basement unit One from the front patio to the upstairs kitchen/dining area One from lakeside to the upstairs unit sun room 100 AMP breaker panel in upstairs unit kitchen Sub breaker in downstairs unit Copper wiring throughout Electric furnace (2001, as per Seller) Electric baseboard heating remains in some rooms but is not being used There is natural gas in the house (furnace could be changed to a gas furnace) No central AC HWT is owned (installed October 2020, as per Seller) Septic New dug well from October 2020 (as per Seller) Windows in basement unit were updated between 2010-2015 (as per Seller) Windows in upstairs unit were updated after 2015 (as per Seller) Roof updated in 2018 (as per Seller) Chimney updated in November 2020 (as per Seller) Detached boat garage (built in 1990 as per MPAC) with hydro Hydro in a boathouse is no longer allowed unless grandfathered in, like this property Concrete breakwall 2 detached sheds with hydro One of the sheds has an outdoor shower 1-car, detached garage built 1990 (as per MPAC) + 1 car driveway in front of garage Includes hydro 4-car driveway directly next to detached garage (separated by hedges) All together there is parking for 6 cars (including the garage) Lot size: 50.10 ft x 184.89 ft (irregular lot) Zoning: R UPSTAIRS UNIT No internal access to basement 3 bedrooms 1 full bathroom 700-1099 sq ft (as per MPAC) Flooring bedrooms is laminate but the rest of the unit is hardwood Sun room is not insulated No laundry in this unit (only in basement) Gas fireplace heating installed in October 2020 (as per Seller) BASEMENT UNIT Walkout entrances from both front and back of house No internal access to upstairs unit 2 bedrooms 1 full bathroom 700-1099 sq ft (as per MPAC) The only part of the basement left to finish the small laundry room Ceiling height is 7.113 ft Kitchen and living room Tile flooring throughout Unfinished laundry room Gas fireplace heating installed in October 2020 (as per Seller) PROPERTY NEEDS Cosmetic renovation

Call (647) 400-2093 for more details

Property Location