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I present to you 23 apartments for sale in a Cupecoy Apartment building near the lagoon water of St Maarten. Built on 592 square meters of land we have a four-storey building consisting of 16 one-bedroom apartments and 8 large studios.
All apartments are 100% occupied with a total yearly rental income of $270,000.
This part of Cupecoy is rapidly being improved with condos, timeshare and commercial properties. The trend of improvements is not likely changing because many projects in this are now under construction with also many others planned to construct. The recently opened Fourteen Mullet Bay has added new upscale residential properties in the area that sell one-bedroom oceanview condos for over $500,000!
$250: Maintenance meter
The apartments in Cupecoy are located in the district of Lowlands at approximately 15 min. driving distance from Philipsburg’s Shopping Center, approximately 5 min. from Simpson Bay’s Shopping Center and approximately 20 min. driving distance from Marigot.
The foundations appear to be the typical reinforced concrete footings in average condition.
The floors of the first, second and third floors are reinforced concrete floors covered with average quality porcelain tiles in average condition, while the floor of the fourth floor is an average quality wooden floor in average condition.
The interior and exterior walls are concrete blocks plastered and painted on both sides. The interior walls of the kitchens and bathrooms are covered with good quality wall tiles in good condition.
The ceilings of the first, second and third floors are average quality sheetrock ceilings in average condition, while the ceiling of the fourth floor is an average quality 3″x 6″ exposed rafter type ceiling covered with Tl-11 sheets in average condition.
The interior doors are wooden panel doors, while the exterior doors are wooden panel doors and aluminum sliding glass pane doors. The windows are aluminum sliding and glass louvered windows. All windows and sliding doors are protected with aluminum roll-up storm shutters. All windows and doors are of average quality in average condition.
The cabinets are wooden cabinets with tiled countertops, while the closets are built-in closets with sliding mirror doors. All cabinets and closets are of good quality and in average condition.
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