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Apartment/boutique Hotel Building For Sale Or Lease

San Pedro, Belize
Asking Price:
$975,000 (USD) Furniture / Fixtures included
Sales Revenue:
Not applicable
Cash Flow:
$50K - $100K (USD)

This is a 3 story 14 unit apartment building constructed of poured concrete and located along Seagrape Drive, one of the main paved arteries in San Pedro, the number 1 Island tourist destination in the world two years in a row! Most of the rooms had been refurbished prior to the Belize borders being closed due to Covid. The property is about a mile south of the San Pedro Airport and one block from the beach. http://www.tripadvisor.com/TravelersChoice-Islands-cTop-g1

The units are semi-furnished with refrigerators and a kitchen area, private bath and air conditioning. There are many resorts, dive shops, restaurants and bars in the area. The Marriott Alaia resort, recently opened August 2021, is just down the street. Several other hotels are currently under construction on the, as the island continues to grow. The 3rd floor is a 2bdrm, 2 bth penthouse where the owner currently resides. There are two 2 bdrm apartments, and one 3 bdrm 2 bth apartment on the second floor. The remaining units are efficiency units.
The apartments were fully leased long term to a mix of locals and expats prior to the renovations in 2019. Unfortunate timing as the country was closed to tourism for almost a year in 2020. There is a lot of new nearby construction and tourism is back.

Belize is a top tourist destination. This property is in a prime position to take advantage of the inflow of tourists and provides a great apartment for the owner. Financing/Lease arrangements are flexible. ://www.belizeglobe.com/2016/01/18/belize-voted-as-most-wished-place-to-visit-on-airbnb/ http://www.belizeglobe.com/2015/03/27/belize-named-the-14th-best-island-escape-by-cnn/ http://www.belizehub.com/2015/08/12/more-flights-more-growth-why-belize-is-poised-to-become-the-next-caribbean-capital/

https://www.facebook.com/Julia-Gardens-Apartments-138548076221791/?ref=bookmarks

For a birds eye view watch this https://youtu.be/mAwIIdk5NaI

More information available upon request, please contact seller below for further details.

Property Information

Real Estate:

Real Property Included

Living Accommodation:

This would be an ideal opportnity for a semi-retired handy man or husband and wife team who wish to live a significant amount of time in Belize. Living in the comfortable penthouse while managing the apartments or guest accomodations.

Location:

Located about a mile south of down town San Pedro. Just across the street from Caribbean Villas and Xanadu Resort, one block from the Beach.

Premises Details:

The 3 story structure consists of 10 efficiency units, two 2 bedroom units, a 3 bdrm 2 bath unit and a two bedroom two bath penthouse on the 3rd floor. There is a separate 2 story bodega used for storage on the property. Not much extra land space as the building footprint occupies about 85% of the area.
The property was originally constructed to house medical students until the school closed several years ago.

Business Operation

Expansion Potential:

As the property is located on a high traffic street, opportunities for a commercial, tour or restaurant business would be possible. The property was operating as a hotel prior to covid restrictions, and was fully book prior to closure. Circumstances have left the property in limbo since.

http://www.belizeglobe.com/2016/01/18/belize-voted-as-most-wished-place-to-visit-on-airbnb/ http://www.belizeglobe.com/2015/03/27/belize-named-the-14th-best-island-escape-by-cnn/ http://www.belizehub.com/2015/08/12/more-flights-more-growth-why-belize-is-poised-to-become-the-next-caribbean-capital/

Competition / Market:

The property is very conveniently located for local residence and Tourists. It offers advantages to other locations as available as everything needed is in walking distance and it is on the main paved road to town. Taxis pass regularly in front of the property for ease in catching local transportation.

Reasons for selling:

Personal matters that the owner needs to attend to in the States.

Other Information

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

The current owner will offer favorable financing with a significant down payment. Lease/purchase would also be an option.

Website:
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