5026 Rice Lake Drive

This incredible property offers a one-of-a-kind opportunity with 257.43 ft of frontage and 143.44 ft of depth, situated right by Rice Lake, where you can enjoy breathtaking sunrises, sunsets, and tranquil water views. Perfectly designed for flexible use, the property features 12 detached cottages, including 4 cottages with 2 bedrooms and 8 cottages with 1 bedroom, each equipped with its own kitchen, stove or cooking range, and private washroom with a shower. Notably, 4 of the homes have new roofs, ensuring added value and peace of mind for the future owner. Heating is provided through space heaters. Adding to its unique appeal, the property has Riparian Rights, allowing for private dock installation within property limits. A dock is installed and removed annually at a cost of approximately $1500 ($750 to install & $750 for take out), providing convenient access for boating and waterfront activities. For those with a vision for development, this property also offers the potential to be transformed into a stunning townhouse community. Professionally designed plans for project are already available and can be provided to the buyer as a reference. Additionally, connections to experienced planner and architect teams can be arranged. Situated in an ideal location, you will be just a short walk from restaurants, parks, trails, the marina, and LCBO, and a quick drive to Port Hope, Cobourg Beach, and Peterborough, with easy access to Highways 401, 115, and 407. A short drive brings you to Kawartha Downs Casino and Racetrack, Peterborough Casino, Costco, Walmart, and more. The hospital and clinics are just 17 minutes away, with easy access to Highway 48. Outdoor enthusiasts will enjoy snowmobiling and ice fishing on the frozen Rice Lake during the winter months, and the picturesque Northumberland Forest is just nearby. This property truly offers endless opportunities. Whether you are seeking a retreat, rental investment, or development opportunity, it is an exceptional find.