3 rental cottages on 1 Silver Lake waterfront lot. Owners paid $550,000 and put over $100,000 into these cottages. Dock. Great swimming, boating & fishing lake. Cottages all have a great view of the dunes & lake. Weekly summer rentals at $4650 for all 3 together to sleep 20 people in 6 bedrooms, 4 baths, 1 laundry, 3 kitchens, 3 lakeside decks or patios. Legal is lots 13 & 36 (beach front) of Adelia Beach. One 2 bedroom, 1 bath cottages with new flooring. Plus a 3 bedroom, 2 bath with laundry connected to another 3 bedroom/sleeping loft. $15,000 new septic installed April 2017. 2017 rental income $50,918. 2016 rentals totaled $50,294. Over $50,000 in bookings for 2016 season. Seller is licensed Real Estate Agent loft and 1 bath unit. 2016 summer income booked is $33,105 as of 4/25/2016.
Between Mac Dune Rides/Silver Lake State Park Campgrounds & The circular/Craigs Crusisers.
The approximate monthly Principal & Interest payment for this property would be $3,118. This payment is based on a 30-year loan at a fixed rate of 3.90 % with a down payment of $54,750. Actual lender interest rates and loan programs may vary.
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