5026 Rice Lake Dr

This incredible property offers a one-of-a-kind opportunity with 257.43 ft of lot frontage and 143.44 ft of depth, situated right by Rice Lake, where you can enjoy breathtaking sunrises, sunsets, and tranquil water views. Perfectly designed for flexible use, the property features 12 detached cottages, including 4 cottages with 2 bedrooms and 8 cottages with 1 bedroom, each equipped with its own kitchen, stove or cooking range, and private washroom with a shower. Notably, 4 of the homes have new roofs, ensuring added value and peace of mind for the future owner. Heating is provided through space heaters. Adding to its unique appeal, the property has Riparian Rights, allowing for private dock installation within property limits. A dock is installed and removed annually at a cost of approximately $1500 ($750 to install and $750 for take out), providing convenient access for boating and waterfront activities. For those with a vision for development, this property also offers the potential to be transformed into a stunning townhouse community. Professionally designed plans for project are already available and can be provided to the buyer as a reference. Additionally, connections to experienced planner and architect teams can be arranged. Situated in an ideal location, you will be just a short walk from restaurants, parks, trails, the marina, and LCBO, and quick drive to Port Hope, Cobourg Beach, and Peterborough, with easy access to Highways 401, 115, and 407. Outdoor enthusiasts will also enjoy the nearby 300 kilometers of groomed snowmobile trails and the picturesque Northumberland Forest. Whether you are seeking a retreat, rental investment, or development opportunity, this property is an exceptional find that offers endless possibilities.

EXTRAS: Stoves/cooking range, 4 of the detach homes have new roofs, potential to install washer and dryer in the pump house for common use, providing additional functionality for new owner.