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Wanstead Heights apartment block Wanstead Gardens ( St. James, BB ) Built

$375,000 USD
Just reduced/priced to sell

Sandcastle

Sandcastle Barbados Real Estate 12462662323 (Cell) Request More Info

  • Great rental income
  • Type: Residential
  • Style: 3 Story
  • Bedrooms: 8
  • Bathrooms: 6
  • Development Level: Built
  • Lot Type: Rectangular

Description

The apartment block available for 375,000usd is an excellent investment opportunity.
Consisting of two one bed units and two three bed two bath units all with great sea views.
It is fair to say that one could improve the rental capacity tremendously by updating the units somewhat but all the units are currently rented generating a total of 2700usd pcm of rental income for long term tenants where the current owner only pays the water bill, thus the ROI as it stands is greater than 8.1% which is a decent return.
The location is ideal with sea views and being close to Warrens for shopping, close to beaches of the beautiful West Coast of Barbados and even only twenty five minutes to Grantley Adams International Airport.
The University of the West Indies is a five minute drive so if long term rentals were preferred the location would appeal to professors as well as students to name but some.
There is land adjacent available for 100,000usd that has planning for a further four, two bed one bath apartments or if one wished to drastically improve the existing apartments then a pool and gardens could be part of the development.
One could reach the golden figure of ten units over the two plots and then one would gain hotel concessions for both building and later management.

Attachments

P2#218221246
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Information is deemed to be correct but not guaranteed.