15 Unit Tibas Apartment Building with over 10% ROI
$500,000
San Jose areas, Tibás, Costa Rica
6,800 sqft
Building Size
7,500 sqft
Lot Area
Details:
Description:
15 Unit Tibas Apartment building with over 10% ROI for sale. Investment/income property of 15 apartments for sale with parking for 7 cars, located in San Juan de Tibas.
Land: 698m2 (7500 sq ft)
Construction: 540m2 (5800 sq ft)
Parking: 100m2 (1076 sq ft)
Description:
The property consists of two floors, all built in block in 1990.
Each apartment has a living/kitchen/dining room, laundry room and 1 bathroom.
There are 6 apartments with 2 bedrooms and 9 apartments with 1 bedroom.
Each apartment has its electricity and water meter. The rental price includes water, the tenant pays the other services on his own.
Finance:
Gross rental income: 2,845,000 colones/month or 34,140,000 colones/year (Approx. $57.000)
Expenses:
– Real estate taxes: 300,000 colones/year
– Corporate taxes: 118,000 colones/year
– Income tax: 500,000 colones/year
– Insurance (INS): 300,000 colones/year
– Maintenance: 100,000 colones/year
Net return: 32,822,000 Colones/year
Annual ROI: 10.75%
Transfer:
– The property is in the name of a company.
– There is a rental contract with each tenant
– Meticulous accounting is maintained and tax returns are declared.
– Transfer of shares can be done
The property has the potential for expansion, building more apartments above the parking area or on a 3rd floor.
Contact me now to view this 15 Unit Tibas Apartment building with over 10% ROI for sale.
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