Cap Estate - US$ 1,900,000
Rarely does a property come on the market with such a different “vibe”. This home is in a superb location In Cap Estate, with panoramic sea views, good road access and a very private location.
The property has been divided into two villas with separate entrances. Both villas could be used as vacation rental villas or one could be lived in and one rented. Either of the villas could easily be made into one large residence.
One of the Villas has been on the vacation rental market for the last three years and has achieved a good rate of occupancy and a good reputation with visitors. Vacation rental income for this Villa varies between $350USD and $475USD per night. A similar income could also be achieved with the second villa.
With both Villas rented, using a 70% occupancy rate (very achievable) income generated would be above $200,000 USD per annum, plus a good capital appreciation possibility on the real estate because of location.
The asking price is 1.9 million USD, but this includes $200,000 to set aside for full completion of work on the second villa, landscaping and pool. The present owner is willing to fully supervise, without charge, to complete this work in an agreed time frame, to create two similar style villas. The property can be bought “as is” with some work still needed to complete the second villa, price would then be 1.7 million USD.
This property is built on a large lot of 29500 square feet. There is additional space possible for an extra small cottage (DCA approval needed) which again could have a completely separate entrance. This property has excellent investment potential as vacation rental villas.
Property Management for none resident owners can be arranged.
Selling Price: US$1,900,000; XC$5,073,000
Category: Houses For Sale
District: Cap Estate , Cap Estate
Living Area (sq.ft): 6,000
Land Area (sq.ft): 29,500
Large area of land
Very good vacation rental income
Panoramic sea views
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Office: + (758) 4500877
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