A well-kept, fantastic income producing property in a quiet neighbourhood bringing in around CI$9000 per month with a mix of short-term, long-term and quarantine tenants. It has consistently maintained maximum occupancy for the owner over the years. Current long-term tenants have been there over 4 years. Sitting on 0.4 acres of well-manicured land, with mature trees, you will find three buildings as follows:
Unit 1: 1B/1B studio renting at CI$1250 per month
Unit 2: 1B/1B studio renting for $1000 per month (but overdue for increase)
Unit 3: 2B/1B main house, currently owner occupied but would conservatively bring in CI$2100 per month.
Unit 5: 1B/1B studio quarantine rental brings in $1650 per month
Unit 6: 1B/1B studio rents for $1050 per month
Unit 4: 1B/1B full unit quarantine rental brings in $1950 per month
All rentals are inclusive of lights and water with some tenants paying their own internet. Quarantine rentals are fully booked months in advance. If the other units were all converted into quarantine rentals for the short term, the property would easily bring in $11000 a month.
The main house (consisting of 3 units) is concrete with the two additional buildings being frame on reinforced concrete pilings. They have been very well built, have been there for going on nearly 5 years and are in excellent condition, like the rest of the property.
The figures speak for themselves- it would be hard to find a better income producing property offering these returns on the market right now.
Worth noting : Building A is a concrete structure but buildings B and C are frame (on concrete and steel pilings) and not approved by planning. However, the owner is currently working on gaining permission for them to remain in place. These additional units have been on property for 5 years.
*Disclaimer: The information contained herein has been furnished by the owner(s) and or their nominee and represented by them to be accurate. The listing company, agent and CIREBA MLS disclaims any liability or responsibility for any inaccuracies, errors or omissions in the represented information. The listing details herein are also courtesy of CIREBA (Cayman Islands Real Estate Brokers Association) MLS and/or via LDX (Listing Data Exchange) feed. All the information contained herein is subject to errors, omissions, price changes, prior sale or withdrawal, without notice and is at all times subject to verification by the purchaser(s).