Property Details
Entire Complex, excellent location short walk to St Mike's beach and next to Marine drive. You cannot beat this location.
Situated in a prime location just a short walk from the popular main beach of St. Michael's on Sea, this property represents an exceptional investment opportunity. Perfectly positioned for permanent rentals, holiday accommodation, or a combination of both, the complex provides a variety of spaces that maximize income potential. Whether you're seeking long-term tenants or short-term vacationers, this block of apartments offers unparalleled versatility to suit any investment strategy. With its strategic location, diverse offerings, and the potential for significant returns, this property is truly a must-see for any serious investor.
The property consists of multiple buildings, each with its own set of residential or commercial spaces, totaling 11 apartments, an office, and three halls. The diverse nature of these spaces opens up a wide array of revenue streams, from residential rental income to potential business or educational uses for the halls and office spaces. With so many options available, investors have ample opportunities to generate income and optimize the use of every square meter.
Building No. 1 with 7 Apartments:
This building is the largest on the property, offering 7 apartments with a mix of 3-bedroom and 2-bedroom units. The 5 x 3-bedroom duplex units each include 1 bathroom, a guest toilet, a spacious lounge, and a convenient enclosed patio area that leads to an undercover patio, ideal for relaxing or entertaining. Upstairs, these duplex units also feature an enclosed verandah for added space. In addition, there are 2 x 2-bedroom units, one of which has an enclosed verandah, while the other has a verandah leading to an undercover patio. These 3-bedroom and 2-bedroom units provide flexibility for both family living or holiday rentals, making them highly attractive to potential tenants.
Building No. 2 with 3 Apartments:
This building consists of 3 additional apartments, including a 2-bedroom, 1-bathroom unit, a 4-bedroom, 1-bathroom unit, and another 2-bedroom, 1-bathroom unit. These units offer a range of configurations suitable for larger groups, such as families or groups of holidaymakers, with the potential to cater to a variety of tenant needs. These apartments can easily be rented out for both long-term leases or holiday stays, depending on demand.
Building No. 3 with 1 Apartment:
This building features a 3-bedroom, 1-bathroom apartment. Adjacent to this apartment is a large hall, currently being used as a classroom. The hall space offers significant flexibility and could be utilized for educational purposes, community events, or even converted into additional rental units, depending on the investor’s vision.
Building No. 4 – Two Class/conference rooms:
This building contains 2 class/conference rooms, each equipped with 3 showers and 3 toilets, which is perfect for use as an educational facility, training center, or even as a communal space for residents or guests. Additionally, there are 2 rooms that could be transformed into bedrooms, increasing the residential capacity of the property.
Building No. 5 – Office:
This building includes a well-sized office with 2 bathrooms, offering the potential for a management office or business use. Its location within the complex means it could also be used to manage the rental operations of the apartments, or alternatively, could be leased to a local business or professional.
Additional Features:
The property is fully walled, providing security and privacy for tenants. It also boasts well-maintained gardens that create a pleasant environment for residents and guests. For practical purposes, the property includes 2 x 1000-liter water tanks, an on-site laundry, and 2 store room containers for additional storage. There is ample parking space available, ensuring that all tenants and guests have easy access.
With so many options for usage, this property offers significant income-generating potential in one of the most desirable coastal locations. Whether you choose to maintain the existing rental setups or convert certain spaces for commercial or other residential purposes, this complex is a perfect choice for an investor looking to maximize returns.
For more information and to explore the full potential of this investment opportunity, feel free to get in contact!