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Multi-Unit Apartment Buildings In Tamarindo Beach For Sale

Playa Tamarindo, Guanacaste, Costa Rica
Asking Price:
$1,450,000 (USD) Furniture / Fixtures included
Sales Revenue:
$100K - $250K (USD)
Cash Flow:
On request

This multi-unit apartment building is located in the heart of Costa Rica’s most famous seaside resort: Tamarindo Beach. It is located right on the front lines of the fully titled properties. This flat 2,647.43 m2 (28,497 sq ft) property holds a total of three buildings which include seven units/apartments:

Building A is a low structure: Built in concrete, it holds two one-bedroom apartments/studios.

Building B is the tallest: Built in concrete, it has two stories: ground floor with two apartments/studios and the second floor hosts two apartments/studios. You can hear the sound of the sea and catch a glimpse of it through the branches.

Building C is a low structure: Built in a light structure, it contains a small side office and the seventh apartment which has a separate bedroom.

Further amenities include: a pool, a BBQ area, two large parking lots, a paved access road halfway, a small office, and a laundry room.

Property Information

Real Estate:

Real Property Included

Living Accommodation:

Owner could occupy one of the 7 units. Perfect for a couple and too small for a family of 4.

Location:

It is located 250 meters to Tamarindo Beach, Costa Rica's most famous beach. The area is quiet and residential and the building is bordered on two sides by forest.

Premises Details:

Property located at 250 meters to Tamarindo Beach (273 yards)
You hear the sound of the Ocean throughout the entire property
12,32 meters of public road frontage
Commercial property
Actually operated by the owners in short term rentals
Fully titled property
Land: us$ 604/M2
One water meter and 3 electric meters on site

Size in square feet:
Land: 28 496 ft2. Buildings: about 3737 ft2
Planning Consent:

90% of the land is flat with an elevation of 20 meters above sea level. It touches a public road which confers it a max of 17% building foot print.

Business Operation

Management type:
This business has absentee ownership.
Expansion Potential:

A third floor would offer an Ocean view

Competition / Market:

Vintage buildings ready for modern updates. It has been run by an elderly couple who did not keep accurate accounting.

Reasons for selling:

The elderly owners are tired of running it themselves

Employees:
One employee to run 7 apartments
Years established:
2000

Other Information

Furniture / Fixtures value:
$100,000 (USD) - included in the asking price
Home based:
This business can be run from home
Distressed:
This business is a turnaround opportunity
Contact Broker