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.
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
