This coastal Bocas del Toro, Panama waterfront condo hotel real estate is for sale. Exclusive oceanfront condo hotel with 32 resort style apartments, each with spectacular views of Panama's Cabana beach and the Caribbean ocean.
All units have an unrestricted view of the Caribbean ocean. Apartments have private terraces and very large living spaces with oversized 5 meter 16.4041 Ft sliding glass doors for extended indoor/outdoor living to enjoy the tropical climate. Penthouses have extra high cathedral ceilings and custom designed doors with an integrated window arch at the top for an unrestricted spectacular view of the Caribbean Sea.
The project has been designed and build to be absolutely unique on Bocas by offering accommodation for an extended family or 2/3 couples for the same price as one hotel room. Return On Capital will be evident if you look at the numbers as provided below.
Exclusive oceanfront condo hotel with 32 exclusive apartments, each with spectacular views of the beach and ocean. Every unit has an unrestricted view of the ocean. All apartments feature private terraces and very large living spaces with oversized 5 meter 16.4041 Ft sliding glass doors for extended indoor/outdoor living. The Penthouses have extra high cathedral ceilings and custom designed doors with an integrated window arch at the top for an unrestricted spectacular view of the Caribbean Sea.
1st Floor Apartments are 1000 Sq Ft and are completely furnished
These 1 BR units will do $ 225, p/d x conservatively 225 days p/y $ 50,625 per year.
2nd Floor Apartments are 1800 Sq Ft and are completely furnished. These 2 BR units will do $ 275,-- p/d x conservatively 225 days p/y $ 57,825 per year.
3rd Floor Apartments are 1800 Sq Ft and are completely furnished. These 2 BR units will do $ 275,-- p/d x conservatively 225 days p/y $ 57,825 per year.
4th Floor Penthouses are 1800 Sq Ft and are completely furnished + 300 Sq Ft Loft
These 2 BR units will do $ 350,-- p/d x conservatively 225 days p/y $ 78,750 per year.
Notice that we are basing the calculations on 225 days out of a whole year.
This could be a lot higher of course. But it's better to stay on the conservative side.
Each apartment is equipped with a complete full sized gourmet kitchen with granite countertops and top of the line stainless steel appliances, incl. dishwasher, ceramic cook tops, microwave, double door fridge and ovens. An oversized Jacuzzi for double pleasure in the master bathrooms is there for whenever the mood strikes you and the second bathroom has a large tempered glass walk-in shower with a massage column. The balconies and stairways are fitted with maintenance free stainless steel high tech designer safety railings. And Walk-in Closets, just like you always wanted.
Bocas Bay Resort consists of 32 spacious condo apartments with 8 units on each level with two elevators going to each floor in two separate stairway towers, giving a complete and convenient coming home experience. All apartment owners can rest assured that a 24 hour security is in place within a gated community with a concierge controlling who goes in or out of the building. Owners and their guests get to use all of the onsite amenities of course, including the available gated and secure parking.
Located far enough away for peace and quiet and yet walking distance close to the liveliest part of Bocas to enjoy the many restaurants and bars that our Island offers. You will sleep like a baby with the soothing sound of the waves tempered by our high quality double glass windows and doors that will put you in control of your environment. Each apartment features a multi split air conditioning system with individual controls to suit every need.
Visit us today for a private tour of Bocas Bay Resort. We will be honored to show you the now completed building with the different layouts. The 12 large private garages with remote controlled electric doors are being offered separately. There is ample free and secure car parking available for you and your guests within a fenced-in and gate controlled site. A security guard is on duty 24-7.
We cordially invite you to Bocas Bay Resort for a discussion on how you could turn these waterfront apartments into a money making opportunity with a fantastic return on your investment. You will decide what days or weeks you want a unit for yourself and/or your friends, while turning the other apartments into a rental money maker.
8 One BR Units on the 1st Floor as per calculations above x $ 50,625.-- $ 405,000.
8 Two BR Units on the 2nd Floor as per calculations above x $ 57,825.-- $ 462,600.
8 Two BR Units on the 3rd Floor as per calculations above x $ 50,625.-- $ 462,600.
8 Two BR Units on the 4th Floor as per calculations above x $ 78,750.-- $ 630,000.
Gross Income based on 225 days rental income per year $ 1,960,200.
The above calculations are purposely kept at 225 days to allow for a 140 day buffer.
This is the calculation that I use as a builder to determine if a project will be viable.
Most investors like to see the potential and realistic vacancies. With the above very conservative approach it calculates to 62 occupancy, allowing for 38 vacancies. The operating expenses should not exceed 20.
The above does not include the potential income from the Tiki Bar, Rental of Garages.
Make an appointment to discuss how you could own this building. You'll be glad you did.