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Ref. #: PHG0144
Type of business:
Rental Apartments
Location:
Soi Khaotalo
Storeys:
3
Sale price:
26,000,000 Baht
Building included in price:
Yes
Size of Land:
1,760 Sqm
Rooms:
39
Number of Employees: 1
Full Time: 1
License Required:
Yes
Parking:
Yes
Established Since:
2007
Furniture, Fixtures etc:
Fully Furnished
Furniture, Fixtures and Equipment Included in the price: Yes |
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Status of building/premises:
Freehold (buy the building/premises)
Net Annual Profit:
2,160,000
Reason for Sale:
Owner relocating
Description:
Completed in 2006/2007, the 3-storey apartment building on 1,760sqm of freehold land is for sale in a good East Pattaya location, approx 5 - 7 minutes from Sukhumvit Road.
Building and interior is to European standards. Quality furniture, fixtures and equipment is worth 3 million Baht.
36 modern en-suite apartments plus 3 one-bedroom apartments are available for rent, all with balcony, hot water shower, air-conditioning, cable TV, wireless Internet, and secure and partly covered parking. The spacious lobby area can be utilized additionally.
A water filter system and laundry facilities are in place.
Without any advertising other than their own website, long-term occupancy rate is already over 50%. Additionally, some rooms are let on short term basis. Net profits in 2008 were over 2 mill. Baht.
The property represents an attractive and secure investment.
Purchase outright at 26 million Baht. Alternatively, the seller offers financing with a 35% down payment and negotiable installments.
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