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El Magnifico: 2 Bedroom Penthouse

400,000 USD

Description

Welcome to El Magnifico Condo-Hotel

Located on ocean front property in Cabarete, Dominican Republic, El Magnifico is the perfect spot to enjoy your holiday. The amazing climate hosts brilliant sunshine, ocean breezes and warm ocean waters all year round. The beaches of Cabarete Bay provide the ideal setting for water sports enthusiasts who want to windsurf or kite-surf, or for those visitors who just want to relax and enjoy a vacation with their family.

El Magnifico created its first building in 1988. Success of this venture provided investors for building 2 in 1994, building 3 in 1999, buildings 4 and 5 in the fall of 2002 and building 6 in 2007. Several units have been sold 2 or 3 times over since their original purchase and have always earned owners a profit.

Investment opportunity in El Magnifico

El Magnifico luxury condominiums and apartments are the perfect investment for those who frequently holiday in Cabarete and desire an investment that will provide them with yearly income.

Purchase units includes the following advantages:

  • Nine (9) weeks owner occupancy of unit
  • Real estate services as required
  • A rental management structure that strives for maximum return on investment
  • Daily maintenance & management of all units and property for nominal fees

Revenues

A large part of revenues are generated by excellent working relationships with important Tour Operators who bring guests from all over the world to Cabarete.Contribution of revenues is attained through website reservations that are made directly at El Magnifico.Accounting is totally transparent and is available to all Investors.

Management

Management is performed by Gerard Hebert who has lived permanently in Cabarete since 1984. As General Manager, he is provided with a 15% management fee. His management of the property includes the following functions:

  • Coordination and administration of building/unit purchases including accounting and revenue distribution to owners
  • Maintenance of very good working relationship with Tour Operators and other clients that provide the majority of net revenue
  • Management and maintenance of property and units in excellent condition
  • Provision of real estate services on behalf of owners and arrangement of legal services as required
  • Maintenance of El Magnifico web site for attainment of additional revenues

Detail

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    2
    Bedrooms
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    2
    Bathrooms
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    140 m²
    Property Size

Updated on June 14, 2022 at 10:55 am

Address

  • Address: Building 3 Hotel Magnifico
  • City: Cabarete
  • State/county: Puerto Plata
  • Zip/Postal Code: 57000
  • Neighborhood: Magnifico
  • Country: Dominican Republic

Contact Agent

Pierre Dardelet
  • Pierre Dardelet
  • 809 753 88 06
  • 809 571 09 99
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