3624 Hilliam Frontage Road Scotch Creek, British Columbia V0E 1M5

$399,500

Hurry on this affordably priced oasis along the sandy shores of Shuswap Lake! There is some serious charm in this .67-acre property, proudly boasting a vintage cottage & bunkie with plumbing, what a place! Enjoy sunshine every day from this beauty with prime southern exposure, only the best possible exposure you can have when on the waterfront. The sandy beach stretches to the cottage, so just outside your lakeside door and beyond the deck, you'll find yourself on sand and on your way to the water where your dock & boat awaits! The rancher style cottage features three bedrooms, a full bathroom, a galley kitchen, and open living room with direct access to the beach. You may have to pull straws for the extra accommodation as there is a guest bunkie with toilet and sink. The cottage and additional outbuilding are on a huge parcel, so they are well protected from any road noise. Tons of room for development here, room for a large triple garage! Let this flat, usable spot be your Shuswap getaway, run don't walk to this one! The 39-year periodic Crown lease runs until 2054; the lease payment is $11,250, with the next rent review in 2027. It is important to note that because financial institutions will not finance periodic lease properties such as this one, this would have to be an all-cash purchase, meaning no mortgage as they are not CMHC approved. Renting out these leasehold properties is not allowed under the lease; you could risk losing your lease if you rented this out for holiday rentals. With a history of leasehold waterfront properties in the area, having offered multiple leases over time, there's a strong precedent already set that indicates the likelihood of securing a new lease or an extension to the current lease when it ends. That said, this is never a guarantee. (id:24231)

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https://www.realtor.ca/real-estate/28153563/3624-hilliam-frontage-road-scotch-creek-north-shuswap