Cupecoy Apartment Building - Cote D Azur Marina

Cupecoy

סנט מארטן

Rare opportunity to own a 4 condo apartment building in Cote D Azur Marina with water rights. The apartment building has been vacant since hurricane damage. There are 3 two-bedroom apartments and 1 one-bedroom apartment. Water rights available but dock has to be built. Approximately 30ft of water rights. The condition of the one-bedroom needs minimal repair. The 3 two-bedroom apartments will require extensive repair however tiling work is almost like new. The external windows and doors will need to be replaced. The roof is ok, no leaks. Roof and other external structures are covered under the association insurance. Very low association fee. This location is suitable for short-term and long-term rentals. Long term rentals are usually guaranteed because of proximity to Medical University. Previously all apartments were rented to students at $2200 per month per apartment. In the current market, your minimum long term rental gross income will be USD$72000 per year. Short term rental income can be 30% more.