This beautiful apartment/resort attracts wealthy tenants from all around the World. Both TripAdvisor and Google have rated us as the NUMBER ONE apartment/resort in Dumaguete for 8 years in a row.
ONLY 28 MILLION PESOS RECENTLY APPRAISED AT 43 MILLION PESOS ($886 THOUSAND US DOLLARS). The 80-YEAR-OLD OWNER WITH BLOOD CANCER FORCED TO SELL!
ALL TITLES ARE CLEAR
PUT 14 MILLION PESOS DOWN AND OWNER WILL FINANCE 14 MILLION FOR FIVE YEARS AT 6%. Your payments will be ~$1200.00 per month which is the amount you will collect from renting out only two units at $600 per month. You should be able to easily rent out 8 TO 10 units and take in $4800 per month during the tourist season.
TOURIST LOVE OUR LOCATION JUST BELOW THE BIG MOUNTAIN (link)
Two units will pay your mortgage leaving your rental income at $4,800 per month. Keep in mind that this deal includes the owner’s house where you will live rent free. You will be paying back about 4 million pesos per year plus a little interest. In other words, this apartment complex will pay off the loan in about 4 years and then you get title to everything. Or you could easily get bank financing for 15 t0 20 years.
THIS PROPERTY NEEDS NO REPAIRS. IT HAS BEEN MAINTAINED IN PERFECT CONDITION BY AN OLD SEA CAPTAIN THAT UNDERSTANDS THE NEED TO KEEP EVERYTHING IN PERFECT WORKING ORDER!
TWELVE FULLY FURNISHED UNITS NEEDS NO REPAIRS ALWAYS MAINTAINED IN PERFECT CONDITION 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
THE LOT IS 1,703 SQ METERS
LAND VALUE IS ~7,500 PESOS PER SQ METER
TOTAL LAND VALUE ALONE IS 12.7 MILLION PESOS
IN OTHER WORDS, YOU ARE PAYING ONLY 14.3 MILLION FOR THE BUILDINGS ALONE WITH A GEORGEOUS POOL THAT COST 12.7 MILLION PESOS! THE PRICE WE QOUTE IS AN STEAL OFFER ONLY DUE TO OWNER’S CANCER
COST TO DUPLICATE TODAY
IS 43,000,000 MILLION PESOS ($886,000.00)
As reported on both GOOGLE and TRIP-ADVISOR, 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 400 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 63-035-531-1242. You can also Call David toll free from the USA 1-803-403-2050
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 ($263,000.00 US Dollars). The inflation rate in the Philippines is 3.5% per year. But land values, building materials, and labor cost are rising at 15% annually.
Eight years ago, the cost to construct our the 3-floor apartment building alone was 12 million pesos ($248,447.00 US Dollars).The same building today will cost 18 million pesos ($372,670.00 US Dollars).
VALUE OF THE OWNER’S HOUSE
The current market value of the owner’s house with furnishings is 6.5 million pesos. ($134,575.00 US Dollars). add THE 6.5 MILLION LAND VALUE TO THE COST OF CONSTRUCTING A NEW APARTMENT BUILDING (18 MILLION PESOS) AND YOU GET 24.5 MILLION PESOS.
BUT DON’T FORGET TO ADD THE FOLLOWING:
We recently spent 2 million pesos ($41,407.00 US DOLLARS) to replace the furniture and bedding in all twelve apartments. Based on the above, the fair market prices reaches 26.5 million pesos.
Add 5 million pesos ($103,519.00)which was the cost of the pool and surroundings, including the large outside kitchen. And the same project today would cost close to 10 million pesos and you come up with ($207,000.00 US)
Now add this 10 million and you come to 36 million pesos as a fair market value. But due to cancer all I ask now is:
28 million pesos plus a 50/50 share on all closing cost and agent fees.
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. This not a selling pitch… we can easily show you All of these safety features built into this property.
AND THIS IS NOT YOUR TYPICAL APARTMENT
Ninety percent of the typical apartments built in the Philippines are constructed to supply the high demand for cheap housing. These buildings attract a lot of drug addicts, drunks, and other troublemakers. These cheaply built building will grumble to the ground in an earthquake or be washed away in a flooding typhoon. Our resort complex is designed to withstand the worse Mother Nature has to offer!
DUMAGUETE STUDIO APARTMENTS TOOK THE HIGH ROAD AND BUILT OUR COMPLEX TO SERVE A BETTER CLASS OF TENANTS AND TO BE THE SAFEST PLACE TO LIVE IN THE ENTIRE PHILIPPIN ISLAND. NOTHING IN THE PHILIPPINES IS BUILT STRONGER! VISIT US AND YOU WILL SEE WITH YOUR OWN EYES!
We serve 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. We have over 500 previous tenants that usually return every few years.
The 18 concrete columns and hundreds of meters of beams (17″ wide and 17″ thick with six 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 computer room and two loft apartments a few years ago. One of these apartments has two bedrooms. An internet café will go good here and bring in the young ladies that attract male travelers,
There are ten studio apartments on two floors that rent for $600 per month (5 units on each floor) with 2 loft apartments on the 3rd floor that rent for $450 per month each.
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 both fully furnished and newly furnished. Also included is a kitchen and small eatery that seats 40 people by the pool!
More info: The first thing we did after was to landscape this property at a slight downhill angle to make sure our underground storm drainage system removes all the water in case of a typhoon. 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 water our lawn and 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 LATE 2023.
Dumaguete City is getting ready for an enormous boost in tourism because of the opening of a new International Airport in late 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. Our Tenants wanted to stay but they had to go home to take care of their families. We are now 30% occupied and will fill-up as soon as travelers get their COVID SHOTS.
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).
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. If we don’t sell out, we will open a webpage advertising as a hotel.
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, it is very rare for a typhoon to hit Dumaguete. The mountains in the area steer the storms to the left or right of the area. But big rainstorms have hit us. But we don’t flood because we built this compound with drainage canals all-around. Flood damage is out of the question here.
Apartment Resort For Sale Dumaguete Philippines
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Apartment Complex For Sale https://dumaguete-studio-apartments.com/dumaguete-furnished-apartments/apartment-complex-for-sale-philippines Dumaguete Philippines