3 rental cottages on 1 Silver Lake waterfront lot. Owners paid $550,000 & put over $100,000 into these cottages. All 3 have new/newer roofs & flooring. Dock, sandy beach area. Great swimming, boating & fishing lake. Cottages all have a great view of the dunes & lake & could be sold off separately by turning into condominium units. Weekly summer rentals at $4950 for all 3 together. Sleeps 20 people in 6 bedrooms, 4 baths, 1 laundry, 3 kitchens, 3 lakeside decks/patios. 2008 appraisal at $615,000 before many improvements. Legal is lots 14 & 35 (beach front) of Adelia Beach. Two 2 bedroom, 1 bath cottages w/new flooring, baths and remodels. 4 bedroom, 2 bath cottage w/large deck, new roof. Over $46,000 income for summer 2016 and $42,214.67 for 2017. Seller is licensed agent.
Between Mac Dune Rides/Silver Lake State Park Campgrounds & The circular/Craigs Crusisers.
The approximate monthly Principal & Interest payment for this property would be $3,058. 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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