Attention Investors! An incredible investment opportunity awaits! Whether you're looking to grow your rental portfolio or start a vacation rental business, this property is packed with potential. This property is perfect for Airbnb or rental income ventures. Key features include: Legal duplex designation with a visible plate on the front of the house. Three units, each with private entrances, offering flexible rental options. Private dock and deeded lake access for year-round enjoyment. The town has started the process for owner purchase of the waterfront land across the street an exciting added value opportunity! 200-amp electrical service, ensuring reliable power for all units. Metal Roof, Furnace 2021 , A/C 2022 , Hot water Tank Owned 2016 . Basement walls Double Insulated. A spacious three-door garage for storage or additional use. A large lot with plenty of parking in both the front and back. This property has incredible potential, whether for short-term rentals, long-term tenants, or a mix of both. Legal Duplex With 3rd Sep. Unit In Bsmt (Can Apply To Make 3rd Unit Legal) On Massive Waterfront Lot! Widens To 82Ft In Rear. Unobstructed Western Lakefront Views! Private Dock + Steps To Boat Launch. Detached 3.5 Car Garage. Instant Lake Access In Winter For Ice Fishing! Upper Unit 1500Sqft: 4 Bedrooms(Converted To 3) + 2 Baths, Kitchen, Dining, Laundry, 2 Decks (Front And Back). Main Unit 550Sqft: 1 Bedroom + 1 Bath, Kitchen, Dining And Walk-Out Patio. Bsmt Unit 450Sqft: Walk-Up Big Bachelor + 1 Bath + Side Private Patio. The seller assumes no responsibility for the accuracy of measurements or any others. The buyer is advised to conduct their own independent investigations and due diligence." **EXTRAS** BASEMENT UNITS, Already (TENANTED ).
Address
55 Lake Drive N
List Price
$998,888
MLS® Status
New
Expiration Date
2025-12-31
Property Type
Residential Freehold
Type of Dwelling
Detached
Style of Home
Sidesplit 3
Transaction Type
Sale
Area
Georgina
Sub-Area
Historic Lakeshore Communities
Region
York
Bedrooms
3 + 1
Bedrooms (Total)
4
Rooms Above Grade
10
Rooms Below Grade
4
Bathrooms
4
Floor Area
2000-2500 Sq. Ft.
Lot Size Source
GeoWarehouse
Lot Depth
218.99
Lot Shape
Irregular
Lot Size Range (Acres)
.50 - 1.99
Lot Size Units
Feet
Lot Width
67.51
Parcel Number
034880015
Occupant Type
Owner+Tenant
Cross Street
Nida Dr and Lake Dr N
Approx. Age
51 - 99 Years
MLS® Number
N12467639
Listing Brokerage
CENTURY 21 LEADING EDGE REALTY INC.
Basement Area
Apartment, Crawl Space
Postal Code
L4P 1A5
Posession Details
60/90
Parking
Available, Front Yard Parking, Private, Covered, Private Double
Parking Places (Total)
11
Parking Spaces
8
Tax Amount
$7,648.85
Tax Year
2025
Rural Utilities
Cable Available, Cell Services, Electricity Connected, Garbage Pickup, Natural Gas, Recycling Pickup, Street Lights, Telephone Available, Transit Services
Site Influences
Beach, Clear View, Deck, Electric Car Charger, Lake Access, Patio, Security Gate, Waterfront, Year Round Living
Accessibility Features
Fire Escape, Level Entrance, Multiple Entrances
Exterior Features
Deck, Patio, Security Gate, Year Round Living
Interior Features
Accessory Apartment, Auto Garage Door Remote, Built-In Oven, Carpet Free, Central Vacuum, Countertop Range, Floor Drain, In-Law Suite, Primary Bedroom - Main Floor, Sump Pump, Upgraded Insulation, Ventilation System, Water Heater Owned, Water Meter
Property Features
Beach, Clear View, Electric Car Charger, Lake Access, Waterfront
Cable
Yes
Central Vacuum
Yes
Family Room
Yes
Hydro
Yes
Elevator
No
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Active
Disclosures
Unknown
Senior Community
No
Board Or Association
Toronto Regional Real Estate Board
Heat Source
Gas
Heat Type
Forced Air
Cooling Features
Central Air
Construction Materials
Aluminum Siding, Stone
UFFI
No
Direction Faces
West
Fireplace
Yes
Fireplace Features
Family Room, Living Room, Fireplace Insert
Foundation Details
Concrete Block
Garage
Yes
Garage Type
Detached
Covered Spaces
3
Kitchens Total
2
Kitchens Above Grade
2
Other Structures
Drive Shed, Fence - Full, Workshop
Pool Features
None
Roof
Metal
Tax Legal Description
Lot 49 Plan 529 N Gwillimbury, Georgina, 18.75 ft x 11.78 ft x 53.75 ft x 204.16 ft x 81.85 ft (Geowarehouse) Widens To 82Ft In Rear.
Security Features
Monitored, Carbon Monoxide Detectors, Security System, Smoke Detector
Topography
Flat
View Type
Beach, Water
Water View
Direct
Waterfront
Yes
Docking Type
Public
Waterfront
Indirect, WaterfrontCommunity
Waterfront Accessory
Single Slip
Waterfront Features
Boat Launch, Waterfront-Deeded Access, Waterfront-Road Between
Water Body Name
Lake Simcoe
Water Body Type
Lake
Shoreline
Unknown
Shoreline Allowance
Not Owned
Access To Property
Public Road, Municipal Road
Alternative Power
None
Sewer
Sewer
