Description
Unique opportunity! Lakefront, income generating, meticulously maintained,multi-family property. Enjoy the beautiful sunsets and the white sandy beachor relax in the pavilion down by the lake. Villa Lotela is located on Lake Lotela,which is a coveted, pristine, sandy bottomed, 800+acre recreational lake.Water enthusiasts, feel free to bring watercraft, boats, jetskis, tubes, etc. Thefishing can also be a lot of fun! For those who golf, Pinecrest Golf Course is onthe other side of the lake! There are numerous other reasonably priced golfcourses nearby.Villa Lotela was originally a beautiful lake front home that was built in 1925. Atsome point in time, the residence was made into apartments. There are fourone bedroom one bath apartments in the main building. In addition, there isa detached two bedroom one bath cottage. Each of the 5 units has a fullkitchen and bathroom. There is a common laundry area in the main building..Currently, all 5 units are managed as furnished rentals with contracts of 6month to a year. All units are on leases with varying end dates. As structurednow, a typical guest is someone looking to stay in the area, that may bebuilding a home, waiting to purchase a home, here on a professional workcontract, or corporate rental. The niche that we serve currently is oftensomeone looking for the comfort or a hotel or Airbnb, who doesnt want topay Airbnb/hotel pricing.Whether you want to live in one unit and rent the rest for supplementalincome or continue to rent all 5 units, the option is yours. And of course, forinvestors, there are different ways to manage the property such as increasedrental income with Airbnb possibility. Creative minds might considerCorporate Retreat, wedding venue, etc. One could even convert back to aprimary residence.All 3 buildings had new metal roofs installed in 2022. Units are separatelymetered for electric. Ample parking and separate entrances for each unit.One of a kind, great if kept as is, but also has amazing potential to make ityour own.
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6BEDS
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1ACRES
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5BATHS
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01/2 BATHS
School Ratings & Info
Description
Unique opportunity! Lakefront, income generating, meticulously maintained,multi-family property. Enjoy the beautiful sunsets and the white sandy beachor relax in the pavilion down by the lake. Villa Lotela is located on Lake Lotela,which is a coveted, pristine, sandy bottomed, 800+acre recreational lake.Water enthusiasts, feel free to bring watercraft, boats, jetskis, tubes, etc. Thefishing can also be a lot of fun! For those who golf, Pinecrest Golf Course is onthe other side of the lake! There are numerous other reasonably priced golfcourses nearby.Villa Lotela was originally a beautiful lake front home that was built in 1925. Atsome point in time, the residence was made into apartments. There are fourone bedroom one bath apartments in the main building. In addition, there isa detached two bedroom one bath cottage. Each of the 5 units has a fullkitchen and bathroom. There is a common laundry area in the main building..Currently, all 5 units are managed as furnished rentals with contracts of 6month to a year. All units are on leases with varying end dates. As structurednow, a typical guest is someone looking to stay in the area, that may bebuilding a home, waiting to purchase a home, here on a professional workcontract, or corporate rental. The niche that we serve currently is oftensomeone looking for the comfort or a hotel or Airbnb, who doesnt want topay Airbnb/hotel pricing.Whether you want to live in one unit and rent the rest for supplementalincome or continue to rent all 5 units, the option is yours. And of course, forinvestors, there are different ways to manage the property such as increasedrental income with Airbnb possibility. Creative minds might considerCorporate Retreat, wedding venue, etc. One could even convert back to aprimary residence.All 3 buildings had new metal roofs installed in 2022. Units are separatelymetered for electric. Ample parking and separate entrances for each unit.One of a kind, great if kept as is, but also has amazing potential to make ityour own.
© 2023 Heartland Association of Realtors, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Compton Realty. Data last updated: 2023-12-05T23:42:24.127.