Multi Unit property with boutique hotel potential
- Date added: 01/17/18
- Bedrooms: 11
- Bathrooms: 5
- Floors: 2
- Area: 1800 sq ft
- Lot size: 10000 sq ft
- Year built: 2005
90k price reduction-hurry before its gone!
Multi unit property with opportunity to convert to boutique hotel and tour center. Great location on the San Pedro Channel!
This beautiful property is located in San Pedro Town core on the oversized waterfront lot. Property consists of owners 2 bedroom 2 bath second floor unit with two terraces, additional 1 bed. 1 bath also on the second floor and 8 units on the ground floor. Beautifully landscaped lot fronts on the navigable deep water natural channel connecting East and West coasts of Ambergris Caye. It only takes 5 min boat ride to reach Barrier Reef for the deep water fishing, diving, snorkeling, and 5 min to the San Pedro lagoon, West Coast of the island for flats fishing. In addition to being in the excellent rental area opportunity exists to reposition the building as inexpensive boutique hotel effectively doubling the rate of return.
Flat second level roof allows the construction of two more levels if needed. Excellent views of the mangrove lined tranquil channel as well as the surrounding area from the second floor wrap around terrace.
Building is newly renovated, and fully occupied with rarely a vacancy. Property is currently leased with triple net contract. Lessee is paying for all maintenance and repairs, utilities and property taxes. Nothing to do but collect fixed monthly payments.
Sold well below replacement cost.
Replacement cost for the building and land is:
Waterfront lot $150,000 USD
Building construction $300,000 USD
Total replacement cost $450,000 USD
This property will not be on the market for long, act fast!