Puerta del Cielo • Mixed Use Building
Property Detail
Property Description
Puerta del Cielo was built in 2008 and has always been family owned and operated. The 4 story building with elevator access was designed as a multi-use space that can be used as commercial offices or as a boutique 8 room hotel. The top level (4th floor), features a 2 bedroom, 2 bathroom villa with a 360 degree wrap around balcony overlooking the ocean and surrounding mountains. This balcony is idea for sunsets and watching the macaws fly by. Additionally, on the entry level there is a quant little cafe that offers breakfast and lunch!
Building Distribution:
Level One: Cafe/Restaurant, 2 rental units
Level Two: 3 rental units
Level Three: 3 rental units
Level Four: 2 bedroom ocean & mountain view villa
(Elevator has entry card to grant access per floor)
The property offers parking and is centrally located on the corner of the main downtown strip & walking distance to everything. Across the road there is a supermarket, 450 meters away is the ocean and & 1 km away is the famous Marina Pez Vela. There are countless markets, restaurants, bars and shopping all within the immediate vicinity which makes this location so central.
Personalize the property: All rooms feature tall ceilings, large open floor plans which could accommodate new ideas and personalisation very easily. With a very modest investment, the 8 rental units could easily be comforted in 1 bedroom studio apartments.
Security: Puerto de Cielo has security from 6pm-6am. The entry level of the property is gated and the elevator works exclusively with a key card.
History of the building:
After completion of construction Levels 1-3 from 2009 – 2014 on a long term lease for $10,000 USD per month + utilities / $120,000 year; while the top level was used as the family’s personal villa.
Since 2014, the family rents out 7 of the rental units (mix of commercial, short & long term rentals) producing on average of $5,500 per month. If the 2 bedroom villa, 1 rental unit and the cafe were leased the property would generate up to $10,000 per month with no additional investment.
Utilities:
Water: There are currently 2 meters for the building, provided by the local municipality AYA.
Electricity: There are 10 electric meters, each rental unit has individual meter provided by ICE.
Investment:
Puerta de Cielo is great opportunity as it offers a way to diversify your portfolio. This investment can adapt to the ever changing market by offering a mixture of short terms rentals, long term rentals, commercial offices and restaurants space.
