Apartment complex for sale in Otro banda with excellent potential return on investment

Sale

Available

Apartment complex for sale in Otro banda with excellent potential return on investment

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Asking Price:

ƒ 895000

v.o.n

4 Beds

3 Bath

110 m²

Description

Apartment complex for sale in Otrobanda with excellent potential return on investment.

This investment property located in the heart of Otro banda, right next to the bustling Kurá Hulanda Village, is not only attractive due to its beautiful location but also offers a potential return of 20.5%, making it a gem for investors.

The apartment complex consists of two apartments on the ground floor, a very spacious penthouse on the first floor, and a space at the rear on the ground level, currently used for long-term rentals but also ideally suited for vacation rentals or even a combination of personal residence and partial rental due to its location.

The units
The spacious penthouse is located on the first floor and features two large bedrooms with the possibility to easily convert into a third bedroom. It includes a large living room with an open kitchen and a rooftop terrace offering incredible views over the UNESCO World Heritage site of Otrobanda and the iconic Julianabrug.

The two ground floor apartments each have a living room with kitchen, one bedroom, and private bathroom facilities.

The space located at the back of the apartments can easily be converted into an extra rental (student) room or additional bedroom for one of the apartments to increase returns. All necessary connections are present in this space.

The entire complex has been recently renovated and is in excellent condition and fully furnished.

The area
The complex is located within the UNESCO World Heritage site of Otrobanda, just a short distance from the trendy Kurá Hulanda Village, where live music is a regular feature, and various hotspots can be found. Popular restaurants and bars, charming shops, a wellness center, a luxury hotel, and the Kurá Hulanda Museum are all nearby. Also close are the popular spots like Gouverneur de Rouville, Bario Foodyard, and the brewery/restaurant Swinging Old Lady.

Additionally, the Pontjesbrug is within walking distance, making the Handelskade and the vibrant districts of Punda and Pietermaai accessible on foot.

There is a significant amount of tourist rental activity in the area, including Curacao Gardens, Kas di Laman, Bario Hotel, and Kurá Botanica. Rooms/apartments smaller than the penthouse are rented for prices ranging from 150 USD to 410 USD per night.

Due to its historic character and the various hotspots within easy reach, a very good occupancy rate is also achieved in Otrobanda.

The return
With long-term rentals, an attractive cash flow is currently being generated. A unique aspect of this property is the ease of transitioning the penthouse to vacation rentals, potentially creating a significant boost in returns. Assuming a conservative nightly rate, a ROI of 20.5% is potentially achievable.

If seriously interested, inquire about the sales memo which further elaborates on the impact of switching to vacation rentals for the penthouse on the returns!

Value appreciation
In recent years, prices in Otrobanda, particularly between Arubastraat and St. Annabaai, have significantly increased. This part of Otrobanda is part of the vibrant historical center of Willemstad. Properties seldom come up for sale in this area, hence a considerable future appreciation in value is expected.

Tax advantage! This property is located in the UNESCO World Heritage area and enjoys an exemption from transfer tax.

Have we piqued your interest? Contact us, and we would be happy to discuss the details of this property with you, and perhaps you will soon be the proud owner of this immediately cash-flow-generating property!

A sales memorandum has been prepared for this property, detailing the financial ins and outs. We are happy to provide this memorandum upon serious interest.

Asking price NAF 895,000