16 rental units + 1 storage near Caribeña Lagoon, Back Gas Station, San Pedro Town, Belize.

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Price Drop

$ 1,200,000.00 USD

Property Type

Apartments

Description

Was for $1,300,000 USD now for $1,200,000 USD Immerse yourself in the vibrant island lifestyle and unlock unparalleled investment potential with this extraordinary rental complex located just steps away from Caribeña Lagoon, Back Gas Station in the heart of San Pedro Town, Belize. San Pedro, Ambergris Caye, is a hub of opportunity, boasting a bustling economy and a wealth of job prospects that continuously attract residents in need of long-term accommodations. The demand for centrally situated rental properties remains consistently high, making this complex of 16 units and 1 storage room an exceptional investment opportunity in a prime location. This building has potential to expand above with an additional 2 floors adding 16 more units. Conveniently positioned within walking distance of essential amenities and attractions, including the newly constructed Ambergris Hope Hospital, Western Dairies, and a diverse array of restaurants, shops, and businesses, tenants will relish the unmatched convenience and accessibility offered by this location. Elevating this investment is its enviable position on a newly paved road, ensuring seamless access for tenants and maximizing the property's rental potential. With an impressive Net Rental Income of $7,213.75 USD per month, as outlined below, and the owner's flexibility to negotiate, this opportunity is nothing short of remarkable. Moreover, San Pedro Town is a playground of adventure and leisure, offering an array of activities for both residents and visitors. From snorkeling excursions at the renowned Hol Chan Marine Reserve to savoring delectable cuisine at local eateries like Caramba and Caliente, the island promises an unparalleled lifestyle experience. Don't miss your chance to capitalize on the thriving real estate market of San Pedro Town, Belize, and secure your stake in paradise today. Google Location https://maps.app.goo.gl/Dsm8NrZ7A3Buuhfg7 Ground Floor -Rental Income Breakdown (NO AC) 3 units are Two Bedrooms and rent for $650 USD per month “as is” = $1,950 USD 5 unit is One Bedroom and rent for $350 USD per month “as is” = $1,750 USD 1 Storage Room- Not being rented, belongs to the owner. Second Floor- Rental Income Breakdown (ALL UNITS HAVE AC) 1 unit is a Two Bedrooms and rents for $700 USD per month= $700 USD 2 units are One Bedroom and rent for $500 USD per month= $1,000 USD 5 units are One Bedroom and rent for $550 USD per month= $2,750 USD Total Monthly Rental Income for the 16 units $8,150 USD per month. Rental Expenses per month The building supplies electricity to all the units through 5 electricity meters which on average cost $1,100 USD per month. The owner charges each 10 of tenants $62.50 USD additionally for electricity use, collecting an additional $625 USD per month from these tenants. $1,100 USD - $625 USD = $475 USD total electricity expense per month The rental units have 4 water meters that on average cost $400 USD per month. The owner charges each the 16 tenants $12.50 USD additionally for water use, collecting an additional $200 USD per month from all the tenants. $400 USD - $200 USD= $200 USD total water expense per month The insurance cost per month is $250 USD and is paid annually, $3,000 USD per year. $3,000 USD / 12 months = $250 USD total insurance per month The internet is paid by the tenants. Cost $0 Yearly Property Tax is $135 USD / 12= $11.50 USD per month Total Monthly Rental Income for the 16 units $8,150 USD per month -Total Electricity Expense of $475 USD per month -Total Water Expense of $200 USD per month -Insurance Expense of $250 USD per month - Monthly Property Tax $11.25 USD Net Rental Income of $7,213.75 USD per month Cap rate considering the FULL asking price of $1,300,000 USD is approximately 6.66% Cap rate considering $1,200,000 USD is approximately 7.21% Cap rate considering $1,100,000 USD is approximately 7.87% Cap rate considering $1,000,000 USD is approximately 8.66% see attached images for more info Allow me to negotiate this amazing deal for you. Contact Edwardo at admin@prestigebelize.com or via WhatsApp/regular call at +501 610 5016 or +1 305 909 9272 to schedule a viewing or make an offer today. Don't let this opportunity slip away – seize the chance to become a part of San Pedro Town's booming real estate market and secure your investment in paradise.