San Pedro Montes De Oca (Montes de Oca - San Pedro, San José, CR ) Built

$980,000 USD

RE/MAX Executive Realty

Sergio Gonzalez Sergio Gonzalez +506-2228-0200 (Office) 305-400-1313 (Office) +506-8820-4412 (Cell) Request More Info

  • Investment opportunity - 16 unit Apartment Complex-13% ROI
  • Type: Other
  • Garage: "Not Covered"
  • Parking Space(s): 4
  • Lot Size: 7127.32 sq. ft.
  • MLS #: 90070100168

Description

This apartment complex is located in San Pedro, walking distance to almost everything: major banks, universities, schools, restaurants, theater, major highways, bus and taxi services. Complex has 16 one bedroom fully furnished apartments, most units are rented to foreign exchange students. current ROI is 13% Unit descriptions: -16 one bedroom apartments -DSL wireless internet -Cable TV -Bathroom with hot shower -Kitchen/dining area -Living room area -Fully equipped!! Rental Income 6 months with Annual total at the bottom June through November Three month contracts 9 apartments $550 X 9= $4,950 /month rental income X 6 months= $29,700 Three month contracts 1 apartments $480 month rental income X 6 months=2,880 One month contract 6 apartments at $650 X 6= $3,900/ month rental income X 6 months=$23,400 December through May Three month contracts 5 apartments $550 X 5= $2,750/month rental income X 6 months = $16,500 One month contracts 6 apartments $650 X 6= $3,900/ month rental income X 6 months = $23,400 One week contracts 5 apartments $270/week X 5= $1,350/week income X 4 weeks= $5,400 X 6 months= $32,400 Per day (sometimes) $70/day (not contemplated here)Annual total rental income $128,280 Below are the other income Laundry Service Income 32 loads X $7/load = $224/week (around twice a week)$224 X 4/weeks = $896/month x 12 months = $10,752 Cleaning Service Income$20 X 32 = $640/week (Twice a week)$640 X 4 weeks = $2,560/month X 12 months = $30,720 Annual income Rents $127,860 Laundry Service $10,752 Cleaning Service $ 30,720 Move out Cleaning $ 3,200 (16 apartments every 3 months on the low side)Total monthly Income = varies high/low season Total annual Income from rents $ 127,860 Total annual income from Cleaning and Laundry $44,672 Approximate Total Annual Income $172,532.00 Monthly expenses based on the last 12 months$120 per month for power company /Month X 12=$1,440 (YEAR)$107 Per month for water bills (AyA) /Month X 12=$1,284 (YEAR)$ 29 Gardener/ Month (average) X 12=$350 (YEAR) $580 Full Time Employee/ Month X 12= $6960 (YEAR) $54 Municipal Taxes/ month X 12 =$650 (YEAR) Annual expenses with Full time employee $10,684 (monthly average expenses $890.33)Approximate Total or gross Annual Income including lavado y limpieza- $172,532.00 - $11,125 expenses (with full time employee) = $161,407 net income Asking price $1,250,000 = 13% ROI\nThis apartment complex is located in San Pedro, walking distance to almost everything: major banks, universities, schools, restaurants, theater, major highways, bus and taxi services. Complex has 16 one bedroom fully furnished apartments, most units are rented to foreign exchange students. current ROI is 13% Unit descriptions: -16 one bedroom apartments -DSL wireless internet -Cable TV -Bathroom with hot shower -Kitchen/dining area -Living room area -Fully equipped!! Rental Income 6 months with Annual total at the bottom June through November Three month contracts 9 apartments $550 X 9= $4,950 /month rental income X 6 months= $29,700 Three month contracts 1 apartments $480 month rental income X 6 months=2,880 One month contract 6 apartments at $650 X 6= $3,900/ month rental income X 6 months=$23,400 December through May Three month contracts 5 apartments $550 X 5= $2,750/month rental income X 6 months = $16,500 One month contracts 6 apartments $650 X 6= $3,900/ month rental income X 6 months = $23,400 One week contracts 5 apartments $270/week X 5= $1,350/week income X 4 weeks= $5,400 X 6 months= $32,400 Per day (sometimes) $70/day (not contemplated here)Annual total rental income $128,280 Below are the other income Laundry Service Income 32 loads X $7/load = $224/week (around twice a week)$224 X 4/weeks = $896/month x 12 months = $10,752 Cleaning Service Income$20 X 32 = $640/week (Twice a week)$640 X 4 weeks = $2,560/month X 12 months = $30,720 Annual income Rents $127,860 Laundry Service $10,752 Cleaning Service $ 30,720 Move out Cleaning $ 3,200 (16 apartments every 3 months on the low side)Total monthly Income = varies high/low season Total annual Income from rents $ 127,860 Total annual income from Cleaning and Laundry $44,672 Approximate Total Annual Income $172,532.00 Monthly expenses based on the last 12 months$120 per month for power company /Month X 12=$1,440 (YEAR)$107 Per month for water bills (AyA) /Month X 12=$1,284 (YEAR)$ 29 Gardener/ Month (average) X 12=$350 (YEAR) $580 Full Time Employee/ Month X 12= $6960 (YEAR) $54 Municipal Taxes/ month X 12 =$650 (YEAR) Annual expenses with Full time employee $10,684 (monthly average expenses $890.33)Approximate Total or gross Annual Income including lavado y limpieza- $172,532.00 - $11,125 expenses (with full time employee) = $161,407 net income Asking price $1,250,000 = 13% ROI

Attachments

Highlights

  • Interior Features: Furnished
P2#1283528173
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Information is deemed to be correct but not guaranteed.