For Sale: 5 Gerald Lane, Mill River East, PE

About this home

Experience the best of waterfront living on beautiful Mill River in this impressive property offering quality, comfort, and exceptional versatility. Featuring nearly 3,500 square feet of finished living space across two levels plus an additional 591 square feet in the attached double car garage, this home is ideal as a luxury residence, multi-generational home, or investment opportunity. The main level features a bright, open-concept design with a stunning custom kitchen, quartz countertops, stainless steel appliances, elegant cabinetry, and a spacious island. The kitchen, dining, and living areas flow seamlessly onto a large rear terrace, where breathtaking views of Mill River can be enjoyed. The primary bedroom also offers direct terrace access, along with two additional bedrooms, a powder room, and laundry area. The fully finished, ground-level lower level offer its own kitchen, living and dining areas, three bedrooms, oversized laundry room, and three walkouts. Currently operating as a highly successful Airbnb, recognized as the #1-rated in Western PEI, with year-round bookings, this space offers excellent income potential or could serve as a beautiful in-law suite. The outdoor setting is equally impressive, featuring waterfront stairs, a shared floating dock, storage building for kayaks and recreational equipment, and a screened cedar gazebo complete with seating and tiki bar, perfect for entertaining. Quality finished include durable Royal Select PVC siding with a lifetime warranty, steel roofing, and a heated double car garage measuring 25 x 23 feet with 12-foot ceilings. A rare opportunity to enjoy spectacular waterfront living while benefiting from the flexibility of a separate income-producing space! (id:63626)

Listed by: Jory MacIsaac, ELITE REAL ESTATE ADVISORS INC.

Home facts and features

Price details

List Price

$880,500

Gross Taxes for 2026

$3,105

Home facts

Bedrooms

3 + 3

Full Bathrooms

Partial Bathrooms

Parking Details

Attached Garage, Heated Garage

Property Type

House

Lot Size

0 ft²

Depth

Year Built

Built in 2015 (11 yrs old)

Title

Freehold

Exterior Finish

Other

Heating Type

In Floor Heating, Oil, Electric, Hot Water, Wall Mounted Heat Pump, Furnace

Cooling

Air exchanger

Features

Balcony, Paved driveway

Appliances

Barbeque, Dishwasher, Dryer - Electric, Microwave, Oven - Electric, Refrigerator, Washer

Agent details

Primary Agent

Jory MacIsaac

Primary Broker

ELITE REAL ESTATE ADVISORS INC.

Listing details

Days on REW

1 Day

MLS® Number

202627956

Source

Canadian Real Estate Association

Board

Prince Edward Island Real Estate Association

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Property Insights

Schools nearby

3 Schools are within 6km

Hernewood Intermediate School

n/a
7 - 9

Westisle Composite High School

n/a
10 - 12

Westisle Alternative Education

n/a
7 - 12

5 Gerald LaneMill River East, PE, C0B 1B0