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$ 499,000
Est. payment /mo
Active
GIBBS CORNER MULTIPLEXES New Providence/Paradise Island
20 Beds
13 Baths
10,380 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 10,380 sqft
Price per Sqft $48
MLS Listing ID 64936
Style Apartment
Bedrooms 20
Year Built 1994
Lot Size 0.360 Acres
Property Description
Presenting Parcel 1 & 2 Grants Town, a captivating multi-family property set on an expansive lot of 15,700 square feet. This historic gem, comprising twelve charming buildings, was constructed over fifty years ago and offers a unique income opportunity with a diverse range of rental units. Nestled in the heart of Grants Town, this property boasts a prime location with easy access to amenities, schools, parks, and transportation hubs. Its timeless charm, expansive grounds, and income potential make it a rare find in today's market. Don't miss your chance to own a piece of history and secure a reliable source of income. Based on the asking price of $499,000 and projected rental income of $8,000 per month, the property would generate approximately $96,000 in annual gross rental income, resulting in an estimated gross return on investment (ROI) of 19.2% per year. At this income level, the investment could potentially recover its purchase price in approximately 5.2 years, before operating expenses and financing costs are taken into account.
Location
Community East Street
Area East Street
Building/Complex Name New Providence/Paradise Island
Interior
Interior Features Furnished, Partial Furnished
Cooling Other
Exterior
Parking Features Open
Roof Type Asphalt Shingle
Building
Lot Description Easy Access, Family Oriented, Highway Access, Shopping Nearby, Road - Paved
Foundation Yes
Sewer Septic - Yes
Water City
Structure Type Concrete Block
Courtesy of: The Bahamas MLS
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