1037 Milford Bay Road, Milford Bay
Property Details
Make your dream of Lake Muskoka ownership a reality! This 11 unit, fully renovated, lakefront resort ticks all the boxes. 150 ft of gently sloping beach greets you at the water’s edge. Docking for several boats and a sprawling level parklike beach area encompasses your future vacation home or investment. Located conveniently in prestigious Milford Bay, this paradise invites you to push your vacation expectations to the limit. Visitors can enjoy boating, watersports, swimming, hiking, elegant dining, quaint shopping, it is a world-renowned destination. Once experienced, the allure of Muskoka will take your breath away. Investors and tourists alike flock to this pristine outdoor enthusiast’s heaven. Abutting the property on the east is majestic Huckleberry Rock providing ample trails with eye popping views of Lake Muskoka. Bracebridge is a short drive east and Port Carling is just a boat ride or 10-minute drive west. The professionally redone lodge has easy access from the walkout side and the upper drive provides direct access to the second floor. Enjoy sunsets from the western exposure at the waterfront. All units are fully rented and in high demand with no vacancies, creating an excellent cashflow (financials are available at a showing with a signed non-disclosure agreement.) This unique opportunity is governed by the Innkeepers Act (not the Landlord and Tenants Act) providing the owner with freedom to rent daily, weekly or monthly. The unit breakdown is as follows: 4-studio aprtmnts, 2-1 bdrm, 4-2 bdrm, 1-4 bdrm (a 12th unit is currently used for storage). An on-site coin laundry generates additional revenue. Book an appointment to view this one of a kind chance to become an owner on the largest most significant lake in Muskoka. This is a perfect scenario for the discerning buyer to use the 4 bdrm, 3 bth unit for their own, luxury use, while having the remaining 10 units produce ample income to offset the fixed and variable costs including a mort! (id:1945)
Property Information
- Sewer: Septic System
- List AOR: The Lakelands
- Stories: 2
- Basement: Crawl space
- Utilities: Electricity, Telephone
- Directions: From Bracebridge - Hwy 118 Left (West) on Butter and Egg Rd. Right (north) on Milford Bay Road to 1037 Milford Bay Road. From Port Carling - Hwy 118 Right on Milford Bay Road to 1037 Milford Bay Road.
- Living Area: 6312
- Lot Features: Visual exposure
- Photos Count: 30
- Water Source: Lake/River Water Intake
- Lot Size Units: acres
- Parking Total: 27
- Water Body Name: Lake Muskoka
- Common Interest: Freehold
- Subdivision Name: Monck (Muskoka Lakes)
- Tax Annual Amount: 5200
- Exterior Features: Vinyl siding
- Security Features: Alarm system
- Building Area Total: 6312
- Lot Size Dimensions: 1.2
- Zoning Description: C1C & CiD
- Waterfront Features: Waterfront
- Map Coordinate Verified YN: true
Nearby Places
Name |
Type |
Address |
Distance |
Brooklands Farm |
Food |
1375 Butter & Egg Rd |
1.6 km |
Arthurlie Bay Waterdome |
Establishment |
Muskoka Lakes |
5.5 km |
Lake Rosseau/Arthurlie Bay Water Aerodrome |
Lake Rosseau/Arthurlie Bay Water Aerodrome, (TC LI... |
|
5.8 km |
Indian River (Muskoka District) |
It is in the Great Lakes Basin, and connects Lake ... |
|
5.8 km |
Touchstone Resort |
Real estate agency |
1869 Regional Road 118 |
6.2 km |
Indian River (reserve) |
It is shared between the Chippewas of Rama First N... |
|
6.9 km |
Port Carling, Ontario |
It has been the municipal seat of the township sin... |
|
7.2 km |
Mortimer's Point Waterdome |
Airport |
Muskoka Lakes |
7.2 km |
Muskoka Lakes Museum |
Museum |
100 Joseph St |
7.8 km |
Just Crepes |
Restaurant |
118 Medora St |
8.0 km |
Muskoka Lakes |
It has a year-round population of 6,707.... |
|
8.1 km |
Oliver's Coffee |
Cafe |
3658 Muskoka Rd 118 W |
8.2 km |
1037 Milford Bay Road mortgage payment
Based on the given information, we can estimate the monthly mortgage payment for someone interested in purchasing the property located at 1037 Milford Bay Road. The current price of the property is $3,150,000, and the mortgage rate being used for the calculation is 4.44%, which is a competitive rate offered by Ratehub.ca. Assuming a conventional mortgage with a 20% down payment, the total amount borrowed would be $2,520,000. This would result in a monthly mortgage payment of $14,730 over a 25-year amortization period.
Demographic
Information
Neighbourhood Education
Bachelor's degree
|
50
|
Certificate of Qualification
|
25
|
College
|
70
|
University degree at bachelor level or above
|
65
|
Neighbourhood Marital Status Stat
Married
|
290
|
Widowed
|
20
|
Divorced
|
30
|
Separated
|
10
|
Never married
|
95
|
Living common law
|
40
|
Married or living common law
|
325
|
Not married and not living common law
|
155
|
Neighbourhood Construction Date
1961 to 1980
|
40
|
1981 to 1990
|
15
|
1991 to 2000
|
25
|
2001 to 2005
|
10
|
2006 to 2010
|
10
|
1960 or before
|
105
|