Scott y Cinthya Weier
Rosarito, BC 22560 Cell: 664-405-5413
Fax:
Other: 6644400788
Work Phone: 515-897-0214
Email Scott y Cinthya

Calle Jose Maria Yanez, Suite 687 Reforma (Rosarito, Baja California, MX - 22710) Built

$239,900
Excellent money maker

Pro Baja Realty

Scott y Cinthya Weier Scott y Cinthya Weier 515-897-0214 (Office) 6644400788 (Office) 664-405-5413 (Cell) Request More Info

  • always rented
  • Type: Multifamily
  • Style: 2 Story
  • Bedrooms: 10
  • Bathrooms: 6
  • Garage: Single, Attached
  • Size: 3,800 sq. ft.
  • Development Level: Built
  • Lot Type: Rectangular
  • Lot Size: 200 sq. m. 10m x 20m
  • Year Built: 2003 "built over 8 years, finished in 2011"
  • Taxes: $100.00
  • Condo Fees: $0.00

Description

Rental income opportunity. Maybe live in one and rent the other 5 or just rent them all. It is a 6 unit apartment, 4 units with 2 bedrooms and 2 with one. All with separate meters for electricity and water so no issues of confusion, each unit pays there own. All the units are kept in good condition, no deferred maintenance. All 6 have been redone in the last 2 years. Usually as one moves out they are repainted and gone through to fix anything needing fixing.

Recently 2 of the 2 bedroom units have been converted to airbnb units and doing very well. They are bring in over $1,000 per month just from the two of them, and it is not even summer yet. A good possibility they all might be someday soon, or just keep a couple long term for diversification. Either way the return on investment is over 10% and could be closer to 20% if all 6 units were converted and did as well as these two are. There is a real shortage for rentals here both short term and long term. Especially in this price range.

For long term rentals, these units rent very well almost by themselves, just put up a sign and you will have more than one call daily. The longest they usually sit empty is a week, unless needing more time to refurbish. It is built in the one of best part of town for middle income Mexican families, in Reforma. It is popular because of being close to the Pabillon where many jobs and shopping are, restaurants are and close to the beach. This unit is about in the middle of both. Public transportation is also very close by, which is important as many of the renters do not have cars. It is finished on the higher end in comparison to the other options close by, so attracts a little better renter than most and gets a much better rental rate per month than most. For short term rentals it is equally as attractive for these same reasons, for the price it is a higher end product, not a 5 star hotel, but much nicer than most $50/night rentals.

The owner has had this apartment complex since the beginning building it from the ground up over about 8 years, never borrowed a penny, all cash. It has done very well for her, but she has better uses of the money so time to let it go and move on. The title is in her name and no problem in transferring to a new escritura or Fideiocomiso.

As you may have seen not much for opportunities like this one out there. Most home purchases for rentals will not generate this good of a return on investment. And with this you are spread out over 6 units so if one would sit empty for a month or two, it is still paying you income. The owner has never had that happen, again always rented within days to maybe a week.

Attachments

P2#219250539
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Information is deemed to be correct but not guaranteed.