For Sale · Specialty

3602 Mabel Lake Road Unit# 5, Lumby

3602 Mabel Lake Road Unit# 5, Lumby, BC V0E2G6

$298,000 total

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Asset Class

Specialty

Size

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Building class

A

Zoning

US — Urban Services

$ / SF

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Occupancy

88%

Year Built

1958

Lot Size

0.76 ac

About this property

Prime location on one of the Okanagan's premier lakes. This rustic little cabin will take you back to your own childhood at the lake. With plenty of charm, this cabin has an open floor plan with functional kitchen, living room and eating area, and a full width deck overlooking the lake. Your need for sleeping space is accommodated by the 2 bedrooms in the cabin and/or a detached “bunky” for the kids that is also perfect for additional family or the guests you’re sure to get (one single and one double bed). This prime location is right on the lakefront with a westerly view and amazing sunsets. There is ample beach and docks for summer fun and boat tie-up. Fishing, boating, kayaking, swimming, ATV and dirt-biking, snowmobiling and winter sports just out the back door; this is truly a year-round playground! You can snow mobile right from the cabin when conditions are right! This property is a Crown Lease (10 year cycle) with the latest renewal completed in 2018 and an annual fee payable. The 2025 lease payment is $16,059.00. Located just south of the Provincial Park and only 1 hour from Vernon. The subject and neighbouring cabins enjoy a shared roadway access with security gate. Plenty of parking on the property and good storage in the “basement” with opening bay doors, and a solid detached shed adjacent to the driveway. Share the enjoyment of this cabin with a group purchase or multi-family ownership or make it your own summer hide-a-way. THIS IS A CROWN LEASE. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$298K
Down payment30% · $89K
Interest rate6.25%
Amortization25 years
Occupancy88%
Expense growth2.5%

Monthly debt service

$1K

Projected NOI

$18K

Annual cash flow

$2K

Cash-on-cash

2.00%

DSCR

1.11

Going-in cap

6.14%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

120,626

Households

50,914

Median income

$124,500

Median age

34.3

Daytime population

205,012

5-yr growth

3.2%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 3602 Mabel Lake Road Unit# 5, Lumby.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.