Great Returns on this 1BR house with Pool and Full Kitchen in Premier Cayo Resort! Cayo District

USD 249,000 /From
SKU: H-345
Property type: House
Area (Sq Ft)
880
Bedrooms
1
Bathrooms
1

Amenities

  • Air Conditioning
  • Concierge
  • Electricity
  • Furnished
  • gated community
  • Microwave
  • Mountain views
  • Quiet Location
  • Refrigerator
  • Restaurant
  • Riverfront
  • Security
  • Swimming Pool

Description

This 1BR house with pool and full kitchen is the perfect opportunity to take advantage of resort driven rental revenue while still having unlimited use of the property for you and your family!  This model includes a pool and you can decide how close you want to be to the Sibun River.

The Banks

This is a 4.5 acre subdivision within the Sleeping Giant Rainforest Estates with 50 by 90 foot lots and 50 by 45 foot lots.  Homes here will have more tightly designed housing plan which features seamless indoor/outdoor living spaces, beautiful landscaping, light-filled indoor spaces, and private courtyards with plunge pools.

This resort residence community will consist of 24 homes.  The homes would qualify to be part of a rental program marketed directly as part of Sleeping Giant Resort.  This resort extension will also have a common area with lobby/concierge, restaurant/bar, swimming pool, river access & toys, and dining palapa on the riverbank.

In the Sleeping Giant Rainforest Estate, The Banks will be located on lots 3,4, 5, 6, 7, and 8 along the Sibun River. Lot 66 across the street will also be a part of this.

Pricing: 

For the first phase of this project, homes start at US$249,000 for a one-bedroom with a full kitchen and pool.  Riverfront units start at US$279,000.

Owners Club:

Buyers will become a part¬†of¬†the¬†Owners¬†Club, which gives owner’s¬†the¬†benefit of access to other resorts in¬†The¬†Belize Collection at a 20% discount on¬†the¬†best available rate along with a 10% discount on food, drinks, and tours.¬†

Construction: 

Construction has already started on the amenities, beginning with the river deck, dining area, and bar. This will be followed by the construction of the pool and lobby. Once amenities are complete, we’ll move on to the construction of the one bedroom units, followed by the two bedroom units

Total construction time will be a year and a half.

Property/Rental Management:

Rental of these units will be available through our management company The Belize Collection.  The onsite management is provided by Sleeping Giant Rainforest Lodge.  It is not possible to rent the homes independently from our operation as we want to maintain consistency of our product offering in terms of product quality, packages offered, and pricing.

Owners have¬†the¬†right to enter¬†their units into¬†the¬†rental program or use¬†the¬†units for¬†themselves,¬†their friends, and family.¬†¬†There are no restrictions as to how many days an owner can use¬†their unit and¬†they can participate in¬†the¬†rental pool as much as¬†they wish.¬† Entering and leaving¬†the¬†rental pool is as easy as blocking off room nights¬†with our reservation‚Äôs office.¬† One stipulation is that any unblocked room nights that are booked need to be honored by¬†the¬†owners.¬† We cannot kick booked guests or cancel existing reservations for¬†the¬†owner’s use.

Rental Split:

The management agreement has a split of room net room revenue 70% to the owner and 30% to the resort.  The net revenue is net of sales commissions.

Expected Income: 

The Belize Collection hotels have a long history of well-run resorts achieving high occupancy rates at good average daily rental rates.  The projections for the rental of the homes are based on similar room styles at Sleeping Giant and the rental history of those rooms.  From that historical data, we expect a ROI of 11-12% at stabilization (when the room rates and occupancies of new rooms stabilize).  Proformas of the two home styles are available at your request.

Financing: 

Financing is available up to 40% of the purchase price at 7% annual interest on a 15 year amortization and a 3 year term.

HOA Fees: 

There is a US$200 monthly HOA fee to cover common area costs around the buildings such as exterior grounds/gardens, exterior maintenance like pathways on the property, the roof, and exterior painting of the buildings.

Video tour

Contact the Agent

Chris Austin

Agent
BZ & WhatsApp
+501 613-7492
US & WhatsApp
+864 420-7595
Chris Austin relocated to Belize from South Carolina in September 2021 after falling in love with the Placencia Peninsula, where he first visited in 2015, and Maya Beach in particular.¬† During his 23 years as a technology contractor in the US, Chris became very familiar with the construction and real estate professions and is pursuing development of his own condos in the Maya Beach area in addition to representing buyers and sellers for REMAX VIP Belize.¬† He has honed his design/build skills by flipping properties prior moving to Belize, and is happy to help you find your “diamond in the rough” here as well. Chris has always believed in offering exceptional service and attention to detail in order to develop long-term, loyal relationships with his clients.¬† He understands the process of buying property and having a business in Belize, having experienced it all firsthand, and will be¬† a resource for…