Ali Bolourchi, Broker Here to serve you!

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Cabarete East (Cabarete, Puerto Plata, DO)
$14,000,000 USD Repossession
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"A lot of hotel for litlle money"
 

RE/Max Realtron Realty Inc.
Thornhill Office


Ali Bolourchi, Broker
 
Ali Bolourchi, Broker
Email Ali
 
Phone: (905) 764-6000
Cell: (416) 230-4588
Fax: (905) 764-1865
 
Details

Address: Sun Beach Type: Commercial Style: Plus villas Bedrooms: n/a "489 bedrooms" Lot Type: Irregular Lot Size:  76610sq. m.  n/a "20,000 sq m of beach!" Year Built: 2003 "Various stages some older"
 
Description

This is a great investment! To build a hotel like this would cost more than $75MIO including the property. You can turn this into a 5-star for roughly a third of that price! The property alone is worth roughly $10MIO!

This is a hotel with a total of 489 rooms spread over a huge property.

There are 300 rooms of 42 sq m each, including balcony. They are single rooms w/o kitchen spread over 6 buildings (rectangular gray buildings in site plan). These were built in 2003

In the 7 older buildings there are twelve 1-bedroom apartments with kitchen and two 2-bedroom penthouses in each building. Total: 84 one bedroom apartments and 14 two bedroom apartments for a total of 112 rooms.

There are 20 beach front villas each with 3 or 4 bedrooms for a total of 77 rooms.

The total land area is 76,609.92 sq m (approx. 20 acres) with 20,000 sq m (5 acres) of beach (300 linear meters). It has 3 pools and 2 clay tennis courts.

There is no furniture in any of the buildings. AC units are also missing.

If you are looking for 4.5-star hotel, then we suggest that your restoration investment will be somewhere around $10MIO.

There was an appraisal done in 2001. That appraisal gave a value to this property of $19mio. That was before the 300 rooms, the reception, 2 restaurants and a pool were built. However, beach front property, like property in general here, has tripled or more since 2001.

The pictures shown are about 3 years old. I have recent pictures and will send them to serious buyers.
 
Highlights

▪ Bank repossession. Well under market value! ▪ Huge beach!
▪ Room to expand!

Features
Interior Features
▪ Hot Tub / Spa ▪ Laundry Room ▪ Wet Bar
Cooling
▪ Zoned
Exterior Finish
▪ Concrete Block ▪ Stucco
Sewer/Water Systems
▪ Private
Roof
▪ Composition ▪ Concrete Tile ▪ Spanish / Clay Tile
Lot Features
▪ Deck ▪ Garden Area ▪ Landscaped
▪ Lawn ▪ Patio ▪ Playground
▪ Swimming Pool ▪ Tennis Court ▪ Trees / Shrubs
View
▪ Ocean View ▪ Panoramic ▪ Park
▪ Woods
Extra Features
▪ Cable Available ▪ Controlled Access ▪ High Speed Internet Available
▪ Lobby ▪ Public Transportation ▪ Security Guard on Duty
▪ Storage
Brokered and Advertised by:   Mi Casa Tu Casa Real Estate P2#29205985
 

Information is deemed to be correct but not guaranteed. To view up-to-date MLS listings please visit www.on-dreamhomes.com.



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