Opis:

Operate as apartment building with great income or convert to a boutique hotel and double the income.

This property is fully occupied-never a vacancy. Professional managment in place, nothing to do but watch the money deposited on to your account in Belize or country of your choice.

Building is located in one of the best areas of San Pedro Town, Ambergris Caye, one lot off the beach with opportunity to add the newly created hotel to the existing adjacent beachfront hotel that also features the restaurant.

Building lot is 50x100ft and is located only a few hundred feet from the world renown resort http://www.thephoenixbelize.com/

Near by is the San Pedro High school (300 ft away) as the result most of the tenants in the building are school teachers with steady government salary.

Third floor apartment of the building features panoramic views of the Sea, Barrier Reef and the San Pedro Lagoon to the West.

Unit Mix

10 One bedroom units

3 Two bedroom units

Building has its own water well, therefore the cost of water to the tenants or landlord is nil.

Ground floor of the building is concrete and second floor is of hardwood frame bolted 4x6 beams, hurricane proof constriction that also includes hurricane straps. Ambergris Caye has very few budget priced hotel/rental accommodation and therefore opportunity exists to reposition the property from the rental long term apartment building into a short term tourist accommodations effectively doubling the cap rate to over 20% as the apartments in the building can be rented for $50-$90 US daily per apartment. In addition condo titles can be obtained and units sold individually for $40,000-$90,000 each-unheard of price point on Ambergris Caye were condo units are sold for no less than $100,000 US.

Building measures approximately 5500sq ft and the cost of the replacement for the property would be as follows

Lot price 50x100 second row from the beach $200,000 US

Cost of construction of the building at $120 US per sq ft $660,000 US

Total replacement cost $860,000 US

Over $100,000 US had recently been spent in renovations that include:

· New Roof

· All new kitchens

· Solid mahogany Furniture, kitchen cabinets and vanities

· All new wiring, meter panels and electrical panels

· New bathrooms and plumbing-American Standard toilets in all bathrooms

· Many new windows and doors

This property is a gem and everything is new! Worry free ownership for years to come.

Home Features

* Air Conditioning
* Balcony
* Cable/Satellite TV
* Electricity
* Internet
* Patio/Deck
* Telephone
* Water

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