Summary

Status: Active
Region: Sold
Category: Accommodation and Food Services
Description:

Do you enjoy working with a vacation rental in the tourism industry? Would you like to live on the most tropical island in Canada? and make a good living at the same time? This rare and desirable 4.32 acre property is located on a picturesque country road only minutes to the main town centre on Salt Spring Island. Sunny and arable, the land boasts of a long winding lane and an ocean glimpse, where you can sit in your hot tub and watch the big liners sailing through the ocean. The gently sloping south facing land is well suited for many rural pursuits such as hobby farming, market gardening, or most profitable, a vineyard. Thoughtfully developed with a luxurious 2 bedroom dwelling of exceptional quality and detail, expandable 2 bedroom guest cottage privately located and a multi-purpose studio/workshop for the work at home entrepreneur running a variety of businesses. Rated as one of the best guesthouses on Salt Spring Island, and less than 1 mile from largest lake on Salt Spring Island and from a world class Equestrian centre, this property is in an extraordinary location. Close to many schools; on bus route. Has ability to more than double revenue by completing construction of 2 more rental units allowable on property. Revenue from all vacation rental units could carry $750,000 mortgage @ 5.5%. Great marketing established. As a community, Salt Spring is the only Gulf Island with its own hospital, high school, several elementary schools, theater, and an upcoming indoor swimming pool. This beautiful island also offers a wide variety of stores including 2 large grocery stores, 2 large building supply centres, 2 drug stores, and many restaurants ranging from everyday food to unique and specialized ethnic menus, clothing stores plus many unique shops, including the infamous Salt Spring Roasting Company, Salt Spring Soap Works, David Wood's Salt Spring cheese, Salt Spring Salmon plus many more renowned businesses.

Broker: Michael Naprawa
Listing ID: VANISBC00114
City/Town: Saltspring Island

Financials

Asking Price: $729,000
Downpayment: $50,000
FF&E Asking Price: $29,000

Property

Real Estate Available: Yes
Real Estate Asking Price: $740,000
Building Size: 1800 sq M.\

Operations

Franchise: No
Homebased: No
Relocatable: No
Year Acquired: 2005
Full-Time Employees: 1
Trading Hours: 8-8, 7 days