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NC109 | MANGRO PLACE – VERY UNIQUE PROPERTY

USD $599,000

Mangro Place is unique and beautifully designed commercial &/or residential building conveniently located just north of Placencia Village.

This one-of-a-kind property, built in 2011 consists of 3 units; the first unit on the ground floor which is being used as an office and live in studio accommodation can easily be converted into a large one-bedroom or medium two bedroom residence, and on the second floor are 2 one bedroom, one bath fully furnished, elegantly designed condos.

Twin upper level units include 700 square feet of covered living space. Each one bedroom, one bath condo has spacious and well-appointed open concept kitchen/living areas & covered verandas. Features include designer furnishings, Luin hardwood ceiling beams, rare Jaguar granite counters, new appliances, air-conditioned bedrooms with queen sized beds and custom tiled open bathroom with large vanity. The east unit also includes a custom built Murphy bed for additional guests. Views of the beautifully landscaped pool, deck area, Placencia lagoon and Maya Mountains are accessed from each unit’s breezy and private verandas.

The lower unit consists of approx. 1200 square feet of living space, including wet bar & full bath. An excellent and professional commercial space that could easily be arranged as an additional residential space.

Mangro Place is a well-designed building, strongly built to withstand hurricane type weather with minimal damage. The property has common areas which are fully landscaped and fenced offering 3 off road parking spaces, one for each unit gravel paths, blooming shrubs, a 10 x 20 foot, 3.5 shallow 5 foot deep, salt-water pool, large 30 x 13 foot sundeck pool area, shaded thatch with power access and utility/laundry room.

This is also fully stratified building; it has 3 individual titles available. This property would be great for joint-friends and or investors who wanted to invest together, but retain legal ownership of their own land titles.   Or a professional wanting to use one unit and rent out the others, or to sell any unit in the future if liquidation or capital was needed quickly.

Each unit also has its own electric meter and butane supply, cable tv and internet. Currently each unit has its own independent billing, but Mangro Place community fees pay for pool, grounds, professional weekly pool cleaning, general exterior maintenance and building insurance (this insurance does not include contents).

All taxes and insurance are current and fully paid, as is all maintenance. A hotel license is in place and a property management and Rental Company is currently managing the rentals. There are gardeners, house cleaners and caretakers in place; this property is move-in ready, just bring a suitcase, or start sending guests and making rental income.

Potential incomes at $1500 USD for each upper level condo and between $1250-3000 USD for lower unit dependent on how space was appointed and let.

Giving a gross potential income of $4250- $6000 USD per month before any agents fees.

Mangro Place comes in an easy access location within close range of the Placencia airstrip, walking distance to public beach access and a quick drive or bike ride to Placencia Village; which features many shopping facilities, restaurants and beach bars. Wake up each morning to hummingbirds and blooming gardenias; relax each afternoon by taking a dip in the salt-water pool or simply relaxing on your veranda and gazing out into the magnificent views. Mangro Place is a tropical oasis and an ideal property for holiday getaways, tranquil escapes and immediate rental income at an incredible value. Must be viewed to be appreciated.

Priced at $199,000 US for each upper unit and $279,000YS for the lower unit, the total for all three units purchased separately would be $677,000 US.  It is discounted for a whole building sale all three units combined at $599,000 USD including contents (excludes some personal items, and artworks and some of lower units furnishings) stamp duties and legal closing costs paid by purchaser.

For more information on this property or to set us a tour, please contact Boris Mannsfeld and associates at 303-495-5536 or 523-3063 or email us at info@realestateplacencia.com. Boris Mannsfeld & Associates is the premier Real Estate firm in the Placencia area.

 

 

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