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For Sale Beach Apartments Project (Includes Ft2 697000 of Front Beach Titled Land).
Date & Time Listed: 2013-07-12 22:54:41 (GMT)
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Ad Details:
• 16+ acres of titled land surrounded by primary rain forest and panoramic ocean views
• located just above playa blanca (best beach in Costa Rica), in the gated community of
Punta Leona, Costa Rica’s most popular beach resorts.
• 3 waterfalls, incredible ocean and jungle views, and infrastructure in place.
• titled property, valid current construction permits for 5 towers, (plans for 10 towers).
• Completed: Foundation of 1st tower, grading of terraces for 5 towers, retaining walls,
roads, utilities to site.
• The project was put on hold in 2009 due to global economic crises and collapse of
Real estate market in Costa Rica
• 2 buildings were sold out with deposits and developers refunded 100% of the deposits
to put it on hold. Many of those buyers express interest in buying again when the
project starts back up.
• Each building is 5 floors with underground parking garage. Several floor plan options
4400 sq ft penthouse, 2200 sq ft 3 bedroom, and what we now think would be most
marketable is 1100 sq ft 2 bedroom.
• If those are sold at $250,000 that would be very popular with the Ticos, and less then
half the price of the competition (Golden Reef Condos $450k-$675k)
• At that reduced price each tower’s gross sales = $5 million.
• Construction cost/ tower is about $3,000,000. Profit about $2,000,000/ tower x 10
towers is $20 million. Increased price directly increased profit costs remain same.
Could easily double the profit by increasing sales to price to equal competition.
• The project has been hold for several years and must resume construction this year
(2013) or will loose its permits and reduce value of land.
• Developers seeking $4 million construction loan to complete 1st tower and common
areas. Can offer equity and competitive interest rates on the debt.
• Sales Price just reduced to sell quickly: $3,900,000
*For a serious business approach Please contact Mr.José Ramón Sosa D.(Broker/CEO)00 506 8730 1749
00 506 4034 7006
Price: 3,900,000.00 USD
Keywords:
apartments beach front project Costa Rica
For more details about this listing please click here to access the webpage provided by listing owner.
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Related Links:
* Punta Leona - Real Estate Classified Ads
* Puntarenas, Costa Rica - Real Estate Classified Ads
* Costa Rica - Real Estate Classified Ads
* Punta Leona - Land for Development Classified Ads
* Puntarenas, Costa Rica - Land for Development Classified Ads
* Costa Rica - Land for Development Classified Ads
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