APARTMENT COMPLEX WITH POOL FOR SALE PHILIPPINES
The only reason this Apartment Complex is for sale is that the owner is 80 years old and has blood cancer.
Twelve door apartment complex with pool for sale in Dumaguete City, Philippines (Negros Island). As a luxurious jewel, this beautiful apartment building attracts the best upper-class tenants from all around the World. Both TripAdvisor and Google have rated us as the NUMBER ONE apartments in Dumaguete for 8 years in a row.
TWELVE FULLY FURNISHED UNITS NEEDS NO REPAIRS ALWAYS MAINTAINED IN PERFECT CONDITION
17 FULL BATHROOMS WITH SHOWERS
624 SQ METERS OF FLOOR SPACE UNDER ROOF
EACH APARTMENT IS 80 SQ METERS INCLUDING FRONT PORCH AND KITCHEN WITH LAUNDRY AREA
OWNER’S RESIDENCE IS 110 SQ METERS WITH
80 SQ METERS OF ATTIC SPACE
LOT IS 1,703 SQ METERS
LAND VALUE IS ~7,500 PESOS PER SQ METER
TOTAL LAND VALUE 12.7 MILLION PESOS
COST TO DUPLICATE TODAY
IS 43,000,000 MILLION PESOS
Firmly Priced at 26 million Philippine Pesos. The owner will help secure financing for qualified buyers!
As reported on GOOGLE and TripAdvisor, this apartment complex has been the number one top-rated in the Dumaguete City ever since it opened eight years ago. There are at least 500 hundred English-speaking previous guests that return every few years for another visit. The number of annual returning guests continues to increase simply because everyone loves it here!
If you are interested, email Capt. David Williams at firstname.lastname@example.org or call 63-0927-320-2111. If you are in the USA, dial 803-403-2050 (the call is toll-free).
Vacant land is selling nearby for 7,500 pesos per square meter. This means the current value of the land alone without the buildings and the pool is 12.7 million pesos. (254,000 US Dollars).
VALUE OF THE OWNER’S HOUSE
The current market value of the separate owner’s house with furnishings is 6.5 million pesos. (130,000.00 US Dollars).
VALUE OF OUR MAIN APARTMENT BUILDING
The construction cost of the apartment building was 12 million pesos 8 years ago. The same building today will cost 18 million pesos. We recently spent 2 million pesos to replace the furniture and bedding in all twelve apartments. To duplicate this apartment resort today would cost over 43 million pesos ($843 thousand dollars)!
The cost of the pool and surroundings, including the large outside kitchen, was 5 million pesos. Today’s cost would be close to 10 million pesos.
The total construction cost was 27 million pesos. Now add the 13.6 million in land value and you get a fair market price of 43,000,000 Pesos (860,000 US Dollars). This property is a STEAL at 26,000,000 pesos (520,000 US Dollars) and only because the owner has cancer!
The added value is that real estate values are rising at about 15% per year in the Philippines.
I’m trying to beat this cancer. If I do, the first I will do is take my sweet apartments off the market.
A TREMENDOUS INVESTMENT OPPORTUNITY!
Our apartment building is the strongest, safest, non-flammable apartment building in the Philippines. It is earthquake-proof, burglar-proof, fire-proof, lightning-proof, tsunami-proof, typhoon-proof, and flood-proof. All of these safety features are easily verified.
THIS IS NOT YOUR TYPICAL APARTMENT
Slum landlords build 90% of the apartments in the Philippines to supply the demand for cheap housing. These buildings attract drug attics, drunks, and lots of troublemakers.
Our apartment complex serves the upper-class market. Our tenants are well-to-do and well-behaved. As mentioned above, we have been the NUMBER ONE rated apartment complex in Dumaguete City ever since we first opened 8 years ago. We are the premier place to stay in Dumaguete City, Negros Island Philippines.
The 18 concrete columns and hundreds of meters of beams (17″ wide and 17″ thick with nine 25 mm steel bars) make this place earthquake-proof.
We had to stop construction at 2-stories with a large 3rd-floor attic. The attic was converted to two loft apartments a few years ago. One of these apartments has two bedrooms. It will be easy to lift the roof and add another two floors back to the original design.
There are ten studio apartments on two floors that rent for $600 (31,200 PHP) per month (5 units on each floor) with 2 loft apartments on the 3rd floor that rent for $450 per month each.
Our building is so strong that it could even serve as a bomb shelter!
WE ARE UP THE BIG MOUNTAIN 10 KM WEST OF DUMAGUETE CITY
There are 12 fully furnished apartments plus a beautiful detached one-story owner’s house with a large attic and a drop-dead gorgeous swimming pool. All units are fully furnished. Also included is a small eatery that seats 40 people by the pool! There is also a new poolside kitchen.
More info: The first thing we did after we drafted our plans was to landscape this property at a slight downward angle to make sure our underground storm drainage system would remove all the water in case of severe rain. There is also an underground storage tank that stores up to 5000 gallons (18.93 m³) of filtered rainwater that we can pump into the pool as needed. We can also pump this same 5000 gallons (18.93 cubic meters) of clean rainwater to our buildings if the city water main ever breaks. In addition, there is another underground drainage canal that carries excess rainwater into the main below ground level city drainage ditch. This place is flood-proof even in the worst typhoon.
NEW INTERNATIONAL AIRPORT WILL OPEN 30 MINUTES FROM OUR LOCATION IN 2022.
Dumaguete City is getting ready for an enormous boost in tourism because of the opening of a new International Airport in 2022 (Link). This new airport will bring a rush of tourists resulting in an increased demand for short-term rental apartments. The government is also building hundreds of miles of concrete roads to all the tourist attractions in the mountains above Dumaguete. The expansion boom will begin as soon as COVID-19 fades away.
CURRENT RENTAL RATE
Each luxury apartment rents for $600 per month. Our occupancy rate was 100% until COVID-19 arrived. We are now 30% occupied.
FULL-TIME STAFF WILL STAY WITH THE NEW OWNER
We have a full-time maid and a full-time cook. We also have a full-time gardener and a full-time maintenance man who doubles as our driver.
THE NUMBER OF RETURNING GUESTS INCREASES EVERY YEAR!
There is no lengthy waiting period to build up repeat customers. All units are air-conditioned and equipped with new wall-mounted 52-inch SONY SMART TVs, 2-burner gas stoves, GE microwave ovens, pots and pans, towels, sheets, pillows and much more. Look everything over at this web page (Link).
GOOGLE SATELLITE MAP
The swimming pool is a big draw because none of the hotels in the area has a pool. No one can beat our pool anywhere near our price.
THE FASTEST GROWING CITY IN THE PHILIPPINES
Property appreciation is running at 15% per year, mostly because labor, materials, and land values have exploded in Dumaguete. The city is growing like crazy because a new International Airport will open about 20 km from our place in less than 1 year.
GREAT INCOME PROPERTY IN DUMAGUETE
Before COVID-19 our occupancy rate averaged 90% year-round. Hundreds of repeat tenants coming back constantly. Facilities maintained in 100% perfect condition. No repairs needed; not even small repairs. No paint needed. NOTHING BROKEN. Everything in perfect condition! YOU MUST SEE TO APPRECIATE!
We also have fiber-optic Internet at 100,000 MBPS. Our apartment complex is spotless, with a well-trained staff. There is also an electrified 16-foot security wall. In addition, there are security video cameras all around. This is the cleanest, most secure apartment complex in the Philippines. You must visit here to appreciate the value!
One other point, a class 3 cyclone has never hit Dumaguete. The mountains in the area steer the storms to the left or right of Dumaguete. But big rainstorms have hit the area. But we did not flood because we built this compound with drainage canals all-around. Flood damage is out of the question here.
Apartment Resort For Sale
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