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"Needs $ 2 MM in restaurations"
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La Costa Destinations International Realty
Dominican Republic Real Estate For Sale |
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Address:
Beachfront Hotel with 489 rooms in Cabarete
Type: Commercial
Style:
Size: 29,086 sq. m. "build"
Lot Type: Rectangular
Lot Size:
81004sq. m.
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300 rooms 42m2 each, including balcony, single rooms no kitchen in 6 buildings (rectangular gray buildings in site plan) these are furnished and usable and were built in 2003
In the 7 older buildings there are 12 one bedroom apartments with kitchen and 2-2 bedroom penthouses in each building. For a total of 84 one bedroom apartments and 14 two bedroom apartments for a total of 112 rooms.
There are 20 beach front villas each with 3 or 4 bedrooms for a total of 77 rooms, only 4-5 of these are in good shape.
The total land area is 81,000m2 (approx 20 acres) with 20000m2 (5 acres) on the beach.
It has 3 pools and 2 clay tennis courts.
The furniture in 300 new rooms is in good shape (some 2 double beds, some queens 2 bedside tables, dresser with mirror, small chair, TV) basic but fine. Other furniture needs replaced.
The property was leased to a management company so there are no financials available. This property is being sold for the asset value only. It requires $2MM in repairs to get it fully operational and upgraded.
There was an appraisal done in 2001 that came in at $19MM (beachfront land has at least tripled since 2001).
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Brokered and Advertised by:
ImmoMexx - Group
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P2#24778972
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Brokered and Advertised by SCOTT MEDINA, http://www.GoPuntaCanaRealEstate.com. THIS IS NOT AN OFFER TO SELL OR SOLICITATION OF OFFERS TO BUY, NOR IS ANY OFFER OR SOLICITATION MADE WHERE PROHIBITED BY LAW. THE STATEMENTS SET FORTH HEREIN ARE SUMMARY IN NATURE AND SHOULD NOT BE RELIED UPON. A PROSPECTIVE PURCHASER SHOULD REFER TO THE ENTIRE SET OF DOCUMENTS PROVIDED BY THE DEVELOPER AND SHOULD SEEK COMPETENT LEGAL ADVICE IN CONNECTION THEREWITH.
