Playa Hermosa B&B

Ref # : 8-3

Location : Playa Hermosa

Price : $ 380,000 Off Market

Land Size : 1738 m2 or 0.429 acres

Construction Size : 200 m2 or 200 ft2

Bedrooms : 6

Bathrooms : 6

 

Types : Beachfront   Best Deals   Commercial   Hotel  

Features : Income Producing   Ocean View - 5 Star   Walking Distance to the Beach  

 

Power : Yes

Access : Public Road

 

Status : Off Market

 

Real Estate Description

The Hermosa B&B is located in one of the most peaceful places here along the coast in the southern Nicoya Peninsula, Costa Rica.

This boutique hotel has 5 rooms, each with a private bathroom. A centralized restaurant serves up a great space for socializing, wining and dining and gazing at terrific sunsets!

All rooms here at the Hermosa B&B have ocean views, including the owner’s/ manager’s apartment located upstairs above the restaurant, which could be converted into a double room if desired. A small garage could also be converted into an additional room. There is additional room to build more cabins on the hillside with even better ocean views.

There is a small air conditioned office located downstairs with internet access and daily reception-type work.

The beach right in front of the hotel is rocky but with a well-known giant tidepool in front. Beautiful Playa Hermosa is just a few minutes walk away. This property is in the maritime zone, with hotel zoning, and the concession has not yet been granted, but is expected to take one more year or so. The owners are willing to do some owner-financing over a year or so.

The property includes all the hotel operating licenses, and a well-established website.

Our professional opinion is that this place could be a real gold mine, and at this price one should seriously consider all of the benefits of having a profitable business like this one while living in tropical paradise!

Here is what makes this hotel a fantastic investment:

The owner of the hotel recently signed a 3-year rental lease with another well-known business in the area to rent out the hotel. There is clause in the contract that says should the hotel sell, the new owner has the right to either continue the contract or terminate it. This is great for both the Seller and any potential purchaser as without even being here or having to deal with running the hotel, you are bringing in a minimum profit of $20’000 a year. According to the rental contract, the current renter is also responsible for the expense of the maintenance of the property and structures.

This is a fantastic opportunity for the right person who recognizes that this is a great deal but does not want to deal with running a hotel.

In 3 years, after the property has been awarded the concession (which will definitely happen by then), it will be worth even more as this investment seems to get even better over time. We would conservatively say the property with a concession and a few minor upgrades such as a pool and better marketing would be worth around $550-600k in 3 years. Even at a worse case scenario, if the hotel resold for $500k in 3 years it would bring in a $125,000 profit.

Looking at this amazing property purely on the investment side, you would be looking at making the following return on your investment:

  • 15% minimal return from the rental income over 3 years
  • Another 33% based on a purchase price of $385,000 and based on a conservative resale number of $500k
  • The total return on your investment in 3 years would be 48%!!!! (Even based on conservative numbers.)

List of specific details:

  • Property: 1 738 sq mtrs
  • Construction: 4,000 sq feet ranging 1-8 years old
  • Large Fully Equipped, Open Aired Thatched Roof Popular Restaurant and Bar
  • 2 Hotel Rooms Off of the Restaurant
  • Large 2 Bedroom Ocean View Apartment Above the Restaurant
  • 1 Bungalow with 3 Beds
  • 1 Bungalow with 2 Rooms Connected by a Kitchen
  • All Rooms/Bungalows also have Outdoor Showers
  • Office
  • Outdoor BBQ Area
  • Space for Ocean View Pool
  • Excellent Beach & Jungle Views
  • Abundant Wildlife
  • 60 Meters of Main Road Frontage
  • Electricity
  • Municipal and Spring Water

Property Image Gallery

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