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3552 Hilliam Frontage Road, Bc, British Columbia V0E 1M5

Waterfront On Lake

$149,500

Hurry on this prime, .65 acre, sandy waterfront lot with southern exposure, right in the heart of Scotch Creek! A lot like this would fetch $800,000 dollars if it was freehold ownership. The towns flat roads are perfect for a bike ride or walk to one of the local artisans. This is one awesome location, tucked away down a dead end road, offering nothing but privacy! 101' of sandy beachfront only adds to the charm. The New lease begins in 2022 and runs to 2054. The lease existing lease payment is $10,100.00, and is good until the new lease begins in 2022. When the lease ends and a new one begins, you can expect a modest increase in the rent payment. Every five years thereafter is a rent review where again, there is normally a modest increase n rent which is paid annually for the next five year period. Although this tear-down cottage has has never seen water, the remainder of the lot gets wet in high water years. This is an all cash purchase, meaning no financial institutions will finance escalating lease property purchases. The potential new owner will also need to demolish the existing cottage to get ready for building a new one, cost associated with this will be around $50,000. The new owner must also install a Health Canada Septic system with a pump station to the street sewer at an additional cost of about $10,000. (id:25306)

Property Details

MLS® Number 10235823
Property Type Vacant Land
Neigbourhood North Shuswap
Parking Space Total 10
Road Type Paved Road
Water Front Type Waterfront On Lake

Building

Type No Building
Utility Water Unknown

Land

Acreage No
Size Irregular 0.65
Size Total 0.65 Ac|under 1 Acre
Size Total Text 0.65 Ac|under 1 Acre

Utilities

Cable Available
Natural Gas Not Available
Sewer Not Available
Telephone Available
Electricity Available
Water Available

https://www.realtor.ca/real-estate/23404518/3552-hilliam-frontage-road-scotch-creek-bc-north-shuswap

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