Hotel with 489 units - right on the beach and an outstanding investment opportunity! (MD1576739)
Important from Mondinion.com! Never pay any "deposit fee" or any other "fee" just to view a property! Any owner / agent who asks you to pay anything by Western Union / Money Gram should be immediately reported to us.
This is a great investment right on the beach! To build a hotel like this would cost more than $56MM including the property. You can turn this into a 5-star for roughly a third of that price! The property alone is worth roughly $11.5MM! This is a hotel with a total of 489 units (505 bedrooms) spread over a huge property. There are 300 rooms of 42 sq m each, including balcony. They are single rooms w/o kitchen spread over 6 buildings (rectangular gray buildings in site plan). These were built in 2003 In the 7 older buildings there are twelve 1-bedroom apartments with kitchen and two 2-bedroom penthouses in each building. Total: 84 one bedroom apartments and 14 two bedroom apartments for a total of 112 rooms. There are 20 beach front villas each with 3 or 4 bedrooms for a total of 77 rooms. The total land area is 76,609.92 sq m (approx. 20 acres) with 41,999.94 sq m (more than 10 acres) of beach (300 linear meters). It has 3 pools and 2 clay tennis courts. There is no furniture in any of the buildings. AC units are also missing. If you are looking for 4.5-star hotel, then we suggest that your restoration investment will be somewhere around $10MM. There was an appraisal done in 2001. That appraisal gave a value to this property of $19mio. That was before the 300 rooms, the reception, 2 restaurants and a pool were built. However, beach front property, like property in general here, has tripled or more since 2001. The pictures shown are about 5 years old. I have recent pictures and will send them to serious buyers. If you are looking for a functioning hotel, we have several starting at $17MM up to $100MM. Write us for more information. HIGHLIGHTS: - Bank repossession. Well under market value! - Room to expand! - Huge beach! - Buildings are in good shape. Very easy to put back on its feet.
This property is located in: Cabarete, Kabarete (Puerto Plata, Dominican Republic).
For more details about this listing please click here to access the webpage provided by listing owner.
Neighborhood
Tourism 1 landmarks in the vicinity
Tourism
Hotel
Current filter contains 0 landmarks
Click on the icons to select or deselect a category...
FILTERS
Tourism
Lingfield Park Marri... Hotel ~ 0,428 km
Request More Details about this Property
Reliable Realty DR (Real Estate Agent) from Dominican Republic
About Reliable Realty DR
Maria Williams is the Broker/ Owner of Reliable Realty Dr, and is a U.S. licensed Realtor since 2005. Maria’s license is in good standing with the National Association of Realtors. Our primary clients (both buyers & sellers) are English speaking. Reliable Realty only represents reputable developers & sellers; promoting new and/ or under construction condos (apartments), villas, exceptional resale properties, viable pre-construction projects, titled land & centrally located businesses for sale or lease in the Punta Cana/ Bavaro/ El Cortecito areas only. Recently we expanded to include Relocation Services.
Todd Williams handles the Property Management aspects of the business, specializing in the entire management & booking of short to mid-term (3 months or less) vacation rental properties, many of which were initially purchased by owners for the primary purposes of obtaining a better return on their investment.
Properties in Caribbean - About Us - Terms of Service - Privacy Policy - Contact Us - Resources - Real Estate Software NEW! Properties in Caribbean is the Caribbean real estate listings portal. Properties in Caribbean is maintained and operated by Premier World Ltd. a registered EU (European Union) company. Our VAT number is: RO11732745. PropertiesInCaribbean.com is part of Mondinion.com International Real Estate Network.