Profitable Apartment Building For Sale in San Pedro Area of San Jose
This 16-unit apartment building in great condition has shown great profitability with minimal invested time. The facility has the infrastructure to be converted to a hotel, with the potential for increased income. The current business model consists of fully booked short-term rentals that are typically reserved a month in advance with a waiting list. This is a business that effectively runs itself, with only a web page and minimal advertising necessary. The current advertising strategy and profit records are available.
The apartment building is conveniently located only 5-10 minutes from San Jose and just minutes from the Mall of San Pedro. This is a popular and developing residential and commercial area that includes a planetarium and university theater. San Pedro is also home to the University of Costa Rica and the Latin University of Costa Rica, both giving the area youthful energy with plenty of clients.
Beautifully Landscaped Gardens and a Courtyard with Fountains
Vibrant and varied tropical foliage highlight the complex’s inside courtyard. Heliconias, stunning Emperor's Wands, and vibrant Ginger Torches highlight this area. Two colorful ceramic tables offer a relaxing place for guests to enjoy the tropical setting with a book or laptop. Calming fountains attract a variety of birds and colorful butterflies dance among the courtyard’s gorgeous flowers. The front of the apartment building is beautifully landscaped with a fountain and seating area for residents to greet friends.
The apartment building also includes an office with a bathroom and kitchen could be utilized as a studio apartment for a building manager or supervisor. A separate laundry room is located upstairs that includes a washer, two dryers, and a space for supply storage. Two storage bodegas are located in the front and courtyard areas.
Solid Structure with Security and Excellent Maintenance
Current features of the complex completed in 2005:
- An electric fence surrounds the perimeter of the property
- High-quality keyless locks are imported from the US
- Auto-locking keypads and two metal gates with deadbolts
- The exterior of the building is painted with acrylic stucco and prevents intrusion of humidity
- Structure of the two-story building is constructed of anti-seismic cement block
A series of Renovations and Additions in 2007 include:
- Guardhouse with electricity added just in front of the main gate
- New roof installed with high heat on both sides, projected to last 35 years
- Re-painting of all apartment interiors
A High-Quality Commercial Real Estate Asset in Costa Rica
The property enjoys a strategic location close to schools and downtown San Jose. Whether your clients are students or professionals working in the capital city, there is no shortage of demand for residential housing here. This turn-key apartment building is an income-producing real estate asset with a proven track record of success and it should continue to steadily perform well into the future.
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