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Titled Apartment Project In Bocas Town. Great opportunity!

$350,000.00

Description

Own this 6 room apartment project in Bocas Town, live in one and rent the other 5 out and live this laid back tropical lifestyle all while you collect rents. This property is a unique project in that all the rooms have not been ever been occupied as the longtime resident owners finished other Bocas projects. A new owner might want to finish the last apartment to their own specifications. There are other small TLC projects that will make the place pop. This would be a clean slate as a new owner can make your own new market, either for long term rentals or Airbnb rooms.

There are 4 studio apartments, 2 on the main floor and 2 on the 2nd floor and 2 one bedroom apartments, all with their own baths.The local going rents are $600/month for the 1 bedrooms and $500/month for the top floor studios and $450/month for the lower floor studios. Short term rentals are $80/night for apartments and $60-$65 studios. The yellow apartments are located on Ave G near the hospital in Bocas Town. The property sits on a standard 200sq mts city lot.The property is titled and comes with a Panama Corporation. Permits in place that would allow to rent or operate hospitality, bar, restaurant, retail or any combination.

The structure is very solid as it was built with Nespero wood ,the local equivalent to steel. Each unit has its own electric meter and all units have city water and septic.The units have a/c and wired for Wifi. All rooms have a closet, bath and kitchen setup. Inside the picket fence would be a great place to grow topical flowers and fruits all in raised beds. This is a great opportunity for either a long term investment in Bocas or a nice place to lay low in a Caribbean hammock and collect rents. Contact us for a showing. Could be the start of a new laid back life here!

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