TITLE:
16 Unit Caribbean View Condo unit
CONTROL:
Owner
VALUE:
$671,520
LOAN:
$0
EQUITY:
$671,520
TYPE:
Multi-Family
HAVE:
All units have a balcony w/bay + island views. Projections are YR2 after all amenities are in. Tenant covers HOA/utilities. YR1 est. are $895/mo and year 2 is $1095. The reason the units at$41,970 are so low is these are on a 36YR lease w/PR government.
ADDRESS:
Roosevelt Roads Base, Ceiba, Puerto Rico
BENEFITS TO NEW OWNER:
YR 2 est. CAP rate of over 20% with huge upside as other projects fill in around. The price of $41,970 is less than half of the current asking retail price of $84,900. Quality Military-built units withstood Hurricane Maria with very little damage.
GROSS SCHEDULED INCOME:
$191,040 Projected
VACANCY LOSS:
$13,373
GROSS EFFECTIVE INCOME:
$177,667
EXPENSES:
$42,000
NOI:
$135,667
DEBT SERVICE:
$0
CASH FLOW:
$135,667
CAP RATE:
20.20%
BENEFITS SOUGHT:
Wanting cash or at least cash down payment with all trades
CAN ADD:
15+ properties including other resort, houses, 3plex, farms, gold mine, notes, and more.
REMARKS:
Because these units share the pools, clubhouse, office, spa, bar, restaurant, pickleball, volleyball, and more with the resort, there will be full-time maintenance and management on-site. These units could easily be run from the mainland.
COUNSELOR:
Lance Dehning
Broker's Guild
931 Lilac St.
Longmont, Colorado, 80501
Phone: 720-327-8050
Email lancedehning@gmail.com
