Property Information

Abaco Towns by the Sea

Abaco Towns by the Sea

Type
Commercial Property
Price
$ 2,499,000   Loan Calculator
Island
Abaco, Bahamas
Address
Abaco Towns, Regattas Condos
Bedrooms
15
Bathrooms
32.0
Living Area
13524 sqft
Lot Area
17251 sqft
More info
Click here

Description

Prime investment opportunity with 3 options to maximize the return and minimize risk. On offer is a re-development opportunity of a prime location in the growing township of Marsh Harbour, Abaco Island. This is a 16 unit condominium complex currently operated as a timeshare facility which has come up for purchase in the first time in its 22 year history. The timeshare business model is fading allowing the ripe opportunity to develop the property into something great once again.

Each of the 16 apartments have 2 bedrooms, 2 bathrooms, and open concept living dining kitchen room and each apartment has a wonderful view of the sea and beachfront at the complex. The furnishings and equipment are all in good order though perhaps a little dated. Low cost maintenance - concrete construction, fiberglass roof tiles, ceramic floor tiles, double glazed windows and central air conditioning throughout. The 3 buildings are part of the Regattas Condominium complex and share the use of the tranquil beach, the beautiful pool, tennis courts and laundry facilities. The location could not be better, sitting right in the middle of the busiest tourist district of Abaco between Abaco Beach Resort, The Conch Inn and restaurant row. Plenty of dining and shopping amenities within easy walking distance. The ferry dock to the outer cays is also an easy 4 minute drive.

Marsh Harbour and the wider Abacos are poised to see substantial growth in the near future with recent major infrastructural upgrades already completed along with several private projects about to see some sustainable growth boosting the local economy. The 3 most obvious options for this property entail A) operating as a 32 room 4 start hotel property, B) flip the condos individually or C) renovate the apartments with upgrades and improvements and then resell them. One more possibility would be to combine all three options above and operate a 5 start beachfront condo-hotel with shared risk and profit. Turnkey 'as is' gross revenue potential is upwards of US$400,000.00 without doing anything to the property. Call or email now for more details on this chance offering.

Amenities

  • Beach Access
  • Beach Waterfront
  • Children Allowed
  • Furnished
  • Hill Top View
  • Swimming Pool
  • Turn Key

Pictures / Photos

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Real Estate Company : HG Christie Real Estate

Established in 1922, H.G. Christie Ltd. is the oldest and most extensive real estate service in The Bahamas and because of our consistently high level of service, we are also the exclusive affiliate in The Bahamas of Christie's Great Estates, the real estate arm of the world-renowned Christie's Auction House.

We have an incomparable collection of listings for your consideration, and we would be pleased to help you discover your own way to enjoy Elegant Island Living.

More info   All properties of this realtor

Real Estate Agent : Dwayne Wallas

Name:
Dwayne Wallas
Phone:
242-359-6046

Dwayne was born in Eastbourne on the southern coast of England, but he grew up in Nassau from the age of two. After graduating from high school in Nassau at St. Andrews School in 1995, he majored in the physical sciences, attending Goddard College in Vermont and graduating from Hampshire College in Amherst, Massachusetts in 2001 with his Bachelor of Arts degree. The title of his college thesis, "A Mechanical Analysis of a Movement in Rock Climbing" alludes to his appreciation for the outdoors and the environment. After spending a few years in the graphic arts profession, Dwayne joined the family business in 2003 at the age of 25. With a focus in the appraisal discipline, and also providing professional services in sales, he continues the tradition started by his great grand-uncle and the founder of the company, Sir Harold George Christie, K.T., C.B.E., in 1922. Dwayne's major interest in life involves sails ranging from little remote control sailboats up to PHRF "Big boat" racing. He has represented the Bahamas on the international level in the Snipe class and is still an avid sailor, a trait he inherited from his grandfather, Peter Christie. Other pursuits include cycling (on and off-road), rock climbing, carpentry, photography, fishing and traveling. His travels within the Bahamas include the Abaco mainland and cays, Andros, Eleuthera, Harbour Island, Spanish Wells, Cat Island, Inagua, San Salvador, Great Exuma and much of the Exuma Cays chain, North and South Bimini, and Rum Cay. Dwayne maintains that the most unique place he has visited in the Bahamas is Conception Island, one of our unknown national marine parks. Dwayne lives in Marsh Harbour and is a real estate professional serving all of the Abacos. Visit Dwayne's Abaco Real Estate blog at http://MyAbacoBlog.com