House in Belmopan, Cayo District[BZ]

100072254052 - Great 2BR Home with Rental Revenue Opportunity in Cayo Resort! - Air ConditioningBuilt in wardrobesConciergeElectricityFurnishedGardengated communityLaundryMicrowaveMountain viewsOutdoor ShowerQuiet LocationRefrigeratorRestaurantRiverfrontSecuritySwimming PoolWaterDescriptionThis 2BR home with 2BA offers a great opportunity for rental revenue in one of the most beautiful resorts in Cayo. These units are fully equipped for a quick visit or full-time living with a full kitchen and washer/dryer. This model includes a pool and can be located right on the banks of the Sibun River if you so desire. Best of all, there are no limits on how much you can use the home yourself. The lock-off design of this bungalow allows it to be rented as either a 1BR or 2BR unit, keeping your occupancy levels at the maximum.The BanksThis is a 4.5 acre subdivision within the Sleeping Giant Rainforest Estates with 50 by 90 foot lots and 50 by 45 foot lots. Homes here will have 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 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$343,400 for a two-bedroom with full kitchen and laundry and pool. A riverside location runs $383,400 for the same home.Owners Club:Buyers will become a partoftheOwnersClub, which gives owner’sthebenefit of access to other resorts inTheBelize Collection at a 20% discount onthebest 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 unitsTotal construction time will be a year and a half.Property/Rental Management:Rental ofthese units will be available through our management companyTheBelize Collection.Theonsite management is provided by Sleeping Giant Rainforest Lodge. It is not possible to rentthehomes independently from our operation as we want to maintain consistency of our product offering in terms of product quality, packages offered, and pricing.Owners havetheright to entertheir units intotherental program or usetheunits forthemselves,their friends, and family.There are no restrictions as to how many days an owner can usetheir unit andthey can participate intherental pool as much asthey wish. Entering and leavingtherental pool is as easy as blocking off room nightswith our reservation’s office. One stipulation is that any unblocked room nights that are booked need to be honored bytheowners. We cannot kick booked guests or cancel existing reservations fortheowner’s use.Rental Split:Themanagement agreement has a split of room net room revenue70% totheowner and30% totheresort.Thenet revenue is net of sales commissions.Expected 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 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 a 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$200monthlyHOAfee to cover common area costs aroundthebuildings such as exterior grounds/gardens, exterior maintenance like pathways ontheproperty,theroof, and exterior painting ofthebuildings.