Santa Teresa Beachfront Bungalows

Location: Santa Teresa

Price: $485,000

Land Size: 1600 m2

Features: Stellar investment, lot of potential

Ref#: 8-206

Property Description:

The only truly beachfront bungalows in Santa Teresa, these three small houses are very popular as rental units year-round. The front two are right on the sand, with the waves right in front, making them very well-booked rentals, in the 70-80% occupancy range. Each unit has a queen bed below, and a small loft with another bed above, to hold 3 adults or two adults and two children. The units have great security, and air conditioning. The property actually consists of two separate lots, and all the current development is only on the front one, leaving the back lot available for additional construction... more bungalows or perhaps a pool, or owner's villa. Having two lots makes it more valuable too, because the lots could be sold independently. This is maritime zone land, and both lots have been approved already for a concession... now they're just waiting for a couple of other pieces to get the final paperwork. But all the difficult approvals have already been passed and now it's just a matter of time. With the concession, the owner will be able to build more. The property has city water, and is located near the source, since unlike many properties in Santa Teresa, it never runs out of water, even at the end of dry season (March/April). This is a very good deal, and highly unique for the area. It has so much potential and many options, making it a stellar investment.