Apartment complex in Sosua for sale GREAT INVESTMENT as each condo could be sold at below market price and still make a profit. This four storey apartment complex is in a peaceful suburb of Sosua close to the town centre and four beaches. There are 19 rentable studio apartments with individual titles that have recently been repainted. Plus, three other apartments that are used for storage, reception, and passageway that are ideal for managing the property and a place where owners and renters could meet. Sixteen have balconies including a forth floor apartment that has ocean view. All the studio apartments have queen and single beds, overhead fans wi-fi and provision for phone, cable, and air-conditioning. The kitchenettes are tiled and include counter gas stove, small fridge. The floors are of terrazzo and the woodwork is of natural pine. Moreover, the hotel is strongly built with 8” reinforced concrete walls, and 10” concrete roof thus making it possible to build fifth floor penthouses. There are also architect’s plans to convert some of the floors into large one bedroom apartments, or even two bedroom apartments with shut out facility. The lowest priced apartment in Sosua ithat we have currently listed is US$30,000. You could sell individual apartments less than this and still make a profit and more if you offered a rental service for future owners. There is a reception area on the ground floor that could also be converted into a commercial frontage. There are plenty of parking spaces in the quiet street as no specific parking area need be provided on buying of a unit since they already have their title. The property sits on 513 sq metres of land with another 513 sq metres alongside that is NOT included in this sale price,but an offer of around $162,000 would be considered. The second lot includes a hair dressing salon that is rented out, a restaurant and bar with large interior kitchen and storage rooms, with additional space for dining inside. At the rear are two apartments, one a small studio and the other a one bedroom apartment. What makes this so attractive is that the studio can be made into a second bedroom by simply removing a wall the size of a door that was built to separate the two to provide additional income and accommodation for hotel supervisor. As with the hotel the structure can take another floor and again there are architects plans to do this. At the rear is a small concrete storage building that could be knocked down and swimming pool added the length of the property and still leaving enough room for the present sun terrace, as well as, two small gardens either end of the building. Alternatively, the owner of the hotel could convert the ground floor apartments and the storage and rear dining room space into a very comfortable apartment. And still have access from the bar and covered area to the large kitchen. Anyone buying the hotel would miss a great opportunity to develop a prime piece of real estate and integrate it with the hotel and build upwards, and possibly linking the two. The present owner who built the hotel is open to an offer for both properties . Please complete the request for information box for more information about this Sosua hotel and the real estate buying process in the Dominican Republic.
