5.63 acres of low bank, walk on waterfront, located on "The Cut" between Thetis Island and Penelakut Islands. This picturesque waterway provides great southerly facing views in both directions. Islands Trust says potentially subdividable into 2 waterfront lots but Buyers would need to do their own due diligence with all agencies to confirm. Just mins from the marinas, beaches, walking trails, ferry terminal, and school & community center, this property is ideally located. Older home built in 1949 has 3bdrs 2.5 baths is in need of some repairs but would make an ideal cottage or temporary home while you build. The property is level, has a double garage, mature gardens, a good drilled well at 8 gpm, septic has had some recent upgrades. Currently $ 135,000 below BC Assessed value. No Speculation or Vacancy Tax here.