House in Belmopan, Cayo District[BZ]

100072254049 - Enjoy Resort Rental Income with this 1BR Riverfront Bungalow in Cayo! - AmenitiesAir ConditioningConciergeElectricityFurnishedGardengated communityMountain viewsQuiet LocationRefrigeratorRiverfrontSecuritySwimming PoolDescriptionTake advantage of a rare opportunity to own a vacation home within one of Belize’s premier resorts in Cayo with the benefits of rental income generated for you by the resort! Better yet, there are no limits on how much you can use the home yourself.The BanksThis is a 4.5 acre subdivision within theSleeping Giant Rainforest Estateswith 50 by 90 foot lots and 50 by 45 foot lots. Homes here will have a more tightly designed housing plan which features seamless indoor/outdoor living spaces, beautiful landscaping, light-filled indoor spaces, and private courtyards with plunge pools.This resort residence community will consist of 24 homes. The homes would qualify to be part of a rental program marketed directly as part of Sleeping Giant Resort. This resort extension will also have a common area with a lobby/concierge, restaurant/bar, swimming pool, river access & toys, and dining palapa on the riverbank.IntheSleeping Giant Rainforest Estate,TheBankswill be located on lots 3,4, 5, 6, 7, and 8 alongtheSibunRiver. Lot 66 acrossthestreet will also be a part of this.Pricing:For the first phase of this project, homes start at US$229,000 for a hotel room style one-bedroom with a pool.Owners Club:Buyers will become a part of the Owners Club, which gives the owner’s the benefit of access to otherresorts in The BelizeCollection at a 20% discount on the best available rate, along with a 10% discount on food, drinks, and tours.Construction:Construction has already started on the amenities, beginning with the river deck, dining area, and bar. This will be followed by the construction of the pool and lobby. Once amenities are complete, we’ll move on to the construction of the one bedroom units, followed by the two bedroom units.The total construction time will be a year and a half.Property/Rental Management:The rental of these units will be available through our management company, The Belize Collection. The onsite management is provided by Sleeping Giant Rainforest Lodge. It is not possible to rent the homes independently from our operation as we want to maintain consistency in our product offering in terms of product quality, packages offered, and pricing.Owners have the right to enter their units into the rental income program or use the units for themselves, their friends, and family. There are no restrictions on how many days an owner can use their unit, and they can participate in the rental pool as much as they wish. Entering and leaving the rental pool is as easy as blocking off room nights with our reservation’s office. One stipulation is that any unblocked room nights that are booked need to be honored by the owners. We cannot kick booked guests or cancel existing reservations for the owner’s use.Rental Income Split:The management agreement has a split of room net room revenue70% to the owner and30% to the resort. The net revenue is the net of sales commissions.Expected Rental Income:The Belize Collection hotels have a long history of well-run resorts achieving high occupancy rates at good average daily rental rates. The projections for the rental income of the homes are based on similar room styles at Sleeping Giant and the rental history of those rooms. From that historical data, we expect an ROI of 11-12% at stabilization (when the room rates and occupancies of new rooms stabilize). Proformas of the two home styles are available at your request.Financing:Financing is available up to 40% of the purchase price at 7% annual interest on a 15 year amortization and a 3-year term.HOA Fees:There is a US$200 monthly HOA fee to cover common area costs around the buildings, such as exterior grounds/gardens, exterior maintenance like pathways on the property, the roof, and exterior painting of the buildings.