23 Condos In Cupecoy Apartment Building For Sale

$3,700,000

23 b

BEDROOMS

23 b

BATHS

b
Property ID: 777

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    23 Condos In Cupecoy Apartment Building For Sale

    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!

    ​Expense per month:

    $200$: Garbage
    $250: Maintenance meter
    $180: Insurance
    $600: Managere
    $200: Cleaning
    $250: Misc ​

    Cupecoy Apartment Building For Sale

    ​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.

    St Maarten Apartment Building For Sale

    • Location: Cupecoy, St Maarten
    • Apartments: 23
    • 16 one bedroom apartments
    • 8 studios
    • Rental income of approximately $24000 per month
    • Always 100% occupied!
    • Concrete building with virtually no hurricane damage.
    • Property is held on an off-shore company.
    • Freehold land size: 592 square meters.

    Buying or Renting Property in St Maarten

    Buying or renting real estate in St Maarten is safer with Century21.

    St Maarten

    • 0% Property Tax.
    • 0% Capital Gains Tax.
    • 4% Property Transfer Tax and 1.5% Notary fees.
    • 2 months Security Deposit for rentals.
    • As a buyer or tenant our service to you is complimentary!
    • We are available 24/7 and we speak 9 languages.

    FINANCE CALCULATOR

    Accurately providing a finance calculaton for your mortgage, owner or partial finance calculation.
    Yes we can help you get a bank finance deal!
    Contact us for a quicker decision from the banks!

    Transfer Tax

    4%

    Property Tax

    0%

    Capital Gains Tax

    0%

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    Ritika Nanwani

    Owner / Head Broker

    +17215261819 ritika@c21sxm.com

    Ritika Nanwani will call you as soon as possible

    No obligation phone call. Think of me as a friend in paradise!



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