50
$399,000 Sale
Listed 81 days ago
9 - 7 SILVER POINT ROAD #9
· 2
· 1.0
· 2
· 700 - 1100
Key Facts
Key facts for 9 - 7 SILVER POINT ROAD #9
Property Type
House, Bungalow
Parking
Garage: No, 2 parking
MLS #
X13647424
Size
700 - 1100 sqft
Basement
None
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
-
Maintenance Fee
-
Description
INCOME-PRODUCING WATERFRONT OPPORTUNITY ON BEAUTIFUL SILVER LAKE. This cottage presents a different approach to recreational real estate-combining year-round personal enjoyment with proven income potential. Ownership is structured through the purchase of shares in the corporation that owns the resor...t. Rather than taking on the full cost and responsibility of a traditional standalone cottage, owners share many of the major expenses and maintenance obligations through the cooperative structure. For Buyers who understand alternative real estate ownership, this offers a practical, lower-maintenance way to participate in waterfront property. Built in 2013, the well-maintained 2-bedroom, 1-bathroom cottage is suitable for year-round use and has an established rental history. Current rental income is approximately $24,000 annually, representing an approximate 6% gross yield based on the $400,000 asking price, with rental demand extending beyond the summer season. Monthly maintenance fees are $800mth and cover many of the significant ongoing ownership expenses, including property taxes, insurance, internet, cable, waste removal, landscaping, water, septic maintenance and care of the resort grounds. Professional management further reduces the day-to-day responsibilities typically associated with cottage and short-term rental ownership. When you're using the property yourself, the setting delivers everything you would expect, including a sandy shoreline, private dock, direct lake access, swimming, boating and four-season recreation. For an investor, entrepreneur or recreational-property buyer looking beyond the conventional cottage model, this is an opportunity to acquire an interest in an established waterfront resort community with a proven rental history, year-round income potential and significantly reduced maintenance responsibilities. ANNUAL INCOME | YEAR-ROUND USE | COOPERATIVE OWNERSHIP | PROFESSIONALLY MANAGED (id:10452)
Room Types
Bathroom
-
Dimensions 2.23 m x 2.25 m
54.01 sqft
Bedroom
-
Dimensions 2.98 m x 4.43 m
142.1 sqft
Dining room
-
Dimensions 2.23 m x 3.31 m
79.45 sqft
Similar Properties (No results)
Listing courtesy of: Royal LePage Team Advantage Realty
This REALTOR.ca listing content is owned and licensed by REALTOR® members of The Canadian Real Estate Association.