Apartment Complex For Sale in Freeport, Grand Bahama, Bahamas
High Potential Investment Opportunity 36 Unit Complex.
Asking Price: $1,200,000 USD (Negotiable)
Excellent opportunity to purchase a 36 unit apartment complex with superb development potential into a in short term rental offering. Strategically located to nearby beaches, hotels and short distance to Port Lucaya. Property arranged into two blocks with common swimming pool and office. Ample parking and walking distance to restaurants, food store and entertainment, and sitting on almost 2 acres.
Imminent sale of the Our Lucaya Hotel property (March 2, 2020) to a joint venture of Royal Caribbean Cruise and the ITM Hotel Group is promising an economic revival to the tune of 2,000 plus jobs. This combined with Carnival Cruise Line $200 Million dollar investment in a new cruise port destination make this a timely opportunity.
Some renovations are necessary to re-establish to property to its full potential but current rental arrangements make this a sound investment under either scenario.