Santiago Multi-Fam
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Rental Grade
Rentability:
B+
Avg. Daily Rate:
A
Occupancy:
B
Location Grade
Beach:
A+
View:
C
Location:
C+
Property Details
Investment Info
Price:
Renovation Costs:
ROI:
Santiago Multi-Fam Overview
Property Description:
Located in the area of Santiago and has three individual units on a 2000 square meter lot. A very short drive from Playa Hermosa, Playa Carmen and Santa Teresa, this property has flat topography and lots of fruit trees, including lemon, mango, guanabana, apple, banana, orange, and tangerine trees. The main house is 94.5 square meters big with a large covered terrace. With three bedrooms, two of which have ensuite bathrooms. The house also has a fully equipped kitchen. Behind the main house there is a studio 17.5 square meters big, with a full bathroom and a 28 square meter terrace with a kitchen.
Additionally, there is a newly constructed apartment with two bedrooms, a bathroom, a large kitchen, a living room, and a covered terrace. The property has a central swimming pool and BBQ area.
This Santiago housing complex is rather isolated and doesn’t have many similar properties in the nearby area. From the properties that are comparable vacation rentals, a fair daily rate (for the whole complex) would be $400, and expect an occupancy of 50%. That is an annual return of 9%, roughly $80,000. This is assuming around $100,000 is invested to total furnish and decorate this property.