Multi-Family Residential Income Property – $585,000 – Cabarete, Dominican Republic
Secreted off of a quiet section of pristine beach in one of the most sought after locations in town, this property embodies everything desirable in popular Cabarete at an extremely attractive price!
This Mediterranean-style, five-family apartment compound includes an inviting upstairs owner’s residence and features breath-taking ocean views from its numerous porches, balconies and beautiful cana-covered yoga loft.
Expanded and completely renovated three years ago, all five residences are fully equipped and furnished down to the linens. The apartments are cooled by the constant trade winds, supplemented by ceiling fans & air conditioning. They boast German-made double-insulated windows, Italian tile floors and full kitchens. Exterior amenities include lushly landscaped grounds with an eye-catching private swimming pool centered around an expansive coralline patio, a large yoga & exercise loft with an adjoining tiled and covered porch, and a spacious rooftop balcony perfect for stargazing.
The Property is very secure; it is gated and guarded by a surrounding wall. There is twenty-four hour electrical power and water, a state-of-the-art solar water heating system, a fully-equipped workshop and a new laundry room. All systems have been upgraded and all apartments are separately metered for electricity.
Owner occupied with long-term residents, the Property is currently under-utilized in terms of income. Along with the option of converting to short-term resort rentals, there is ample room for expansion and the addition of more units. A full-time, professional (and affordable) maintenance-manager is on site to handle all operations and is available to continue in service.
The beauty, tranquility, privacy and convenience this property offers the discriminating buyer the ability to continue with this successful operation, as well as the opportunity of tailoring it to their individual aspirations.
This property is the main yoga destination in Cabarete with classes held every day except on Sunday. Besides adding additional income, it serves as an exceptionally effective form of free advertising, keeping the occupancy continually at 100%.
Two 2 BR/2 BA, 1st Floor, Monthly Rent: $800 US + $750 US
Two 1 BR/1 BA, 1st Floor, Monthly Rent: $550 US+ $350 US
One 1.5 BR / 1 BA, 2nd Floor (Owner Occupied)
Yoga Income: $100- $150 US/Month
- 24 hour security.
- Air Conditioning
- BBQ Area
- Cable TV & Internet
- Ceiling Fans
- Laundry Room
- Ocean View