Three storey apartment building for sale at Rodney Heights in Rodney Bay St Lucia. The property features :
Excellent views of Rodney Bay and surrounding areas
Has three 2 bedroom apartments
Income generated currently: ECD 7,600 per month
Two apartments rent for ECD 2,800 each and one apartment rents for ECD 2,000 per month
Apartments have always been rented since being built in 2002 and has never been empty; constant flow of revenue every month.
The space can also be converted into 13-15 office spaces with desks since the location is quite central; even an embassy may rent the whole building. Will also be good for architect, engineer or attorney offices. With a more commercial use of the building, one will be able to achieve a higher rental income.
Owner is willing to rent out the bottom apartment to put his architectural firm and pay the new owner a rent of ECD 5,500 per month on a long term lease. They will also renovate and retrofit the apartment at their cost. Owner will also help in the design of offices for the other 2 apartments. If new owner keep the present long term renters upstairs (ECD 2,800 + ECD 2,800) and add his rental (ECD 5,500), the rental income you will have in hand is ECD 11,100.
An additional bedroom can be created for each apartment if this is preferred, by enclosing the balcony space. This increases the number of bedrooms to 3 bedrooms for each apartment and one can therefore expect a higher rental; ECD 3,500 for units that currently go for ECD 2,800 and ECD 2,800 for the unit that currently goes for ECD 2,000
Furniture valued at ECD 75,000 per unit included in the price. Also Fully air conditioned
There is space at front of property to put a pool if one would want to create an Air bnb set up
Property is a corner lot and the space next to it is zoned for a park/open space
Owner will paint over the entire building before he sells