55 Lake Dr N
Historic Lakeshore Communities, Georgina, L4P 1A5
FOR SALE
$1,748,888
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3 + 1
BEDROOMS4
BATHROOMS2
KITCHENS10 + 4
ROOMSN11937067
MLSIDContact Us
Property Description
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 Bsmnt (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. Bsmnt 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** UPPER & BASEMENT UNITS, Already ( TENANTED ).
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-02-02 | 2024-04-03 | 61 | $1,680,000 | - | Expired |
| 2023-02-08 | 2023-03-17 | 37 | $1,999,000 | - | Terminated |
| 2022-10-12 | 2023-01-12 | 92 | $1,649,000 | - | Expired |
| 2022-08-03 | 2022-10-12 | 70 | $1,999,000 | - | Terminated |
Nearby Intersections
Property Features
Beach, Clear View, Cul De Sac, Fenced Yard, Lake Access, Waterfront
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Property Details
Street
Community
City
Property Type
Detached, Sidesplit 3
Approximate Sq.Ft.
2500-3000
Lot Size
68' x 219'
Acreage
.50-1.99
Fronting
West
Taxes
$7,649 (2024)
Basement
Finished, Sep Entrance
Exterior
Alum Siding, Stone
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
8
Driveway
Available
Garage Type
Detached
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Living | Upper | 19.75' x 17.13' | Overlook Water, Hardwood Floor, W/O To Deck |
| Dining | Upper | 16.47' x 16.47' | Overlook Water, 2 Pc Bath, Large Window |
| Kitchen | Upper | 10.96' x 17.16' | W/O To Deck, French Doors, Pantry |
| Prim Bdrm | Upper | 13.45' x 21.62' | 4 Pc Ensuite, Closet, Overlook Water |
| 2nd Br | Upper | 11.52' x 12.01' | O/Looks Backyard, Laminate |
| 3rd Br | Upper | 8.96' x 11.52' | O/Looks Backyard, Laminate, Closet |
| 4th Br | Main | 10.14' x 9.88' | Overlook Water, Laminate |
| Living | Main | 9.81' x 11.09' | Fireplace, W/O To Patio, Laminate |
| Dining | Main | 11.06' x 11.09' | Combined W/Living, O/Looks Backyard, 3 Pc Bath |
| Living | Lower | 12.86' x 24.87' | Combined W/Dining, Above Grade Window, 3 Pc Bath |
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Georgina Market Statistics
Georgina Price Trend
55 Lake Dr N is a 3-bedroom 4-bathroom home listed for sale at $1,748,888, which is $971,833 (125.1%) higher than the average sold price of $777,055 in the last 30 days (January 21 - February 19). During the last 30 days the average sold price for a 3 bedroom home in Georgina declined by $118,418 (13.2%) compared to the previous 30 day period (December 22 - January 20) and down $118,284 (13.2%) from the same time one year ago.Inventory Change
There were 59 3-bedroom homes listed in Georgina over the last 30 days (January 21 - February 19), which is up 59.5% compared with the previous 30 day period (December 22 - January 20) and down 1.7% compared with the same period last year.Sold Price Above/Below Asking ($)
3-bedroom homes in Georgina typically sold ($12,743) (1.6%) below asking price over the last 30 days (January 21 - February 19), which represents a $21,920 increase compared to the previous 30 day period (December 22 - January 20) and ($20,463) more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 3-bedroom homes in Georgina over the last 30 days (January 21 - February 19) stood at 61.0%, up from 51.4% over the previous 30 days (December 22 - January 20) and up from 46.7% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 3-bedroom 4-bathroom home in Georgina stood at 21 days when successfully sold over the last 30 days (January 21 - February 19), compared to 77 days before being removed from the market upon being suspended or terminated.Listing contracted with Century 21 Leading Edge Realty Inc.
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