Single Family home with 3 rental apartments, great income producing rental potential! - Remodeled single family home with great income producing potential!
|Area/Town:||Reverted Areas / Canal Zone|
|Property Type:||Single Family House|
|Constr. Area:||371 m2 | 3,993 sq.ft.|
|Total Area:||840 m2 | 9,042 sq.ft.|
Remodeled single family home with great income producing potential!. The main part of the home is completely remodeled and consists of 4 bedrooms, and 2 bathrooms. The master bedroom has its own in-suite bathroom. The kitchen opens up to the dining room, which in turns opens up to the living room and den area. The larger section of the home has nice finishes such as granite counters in the kitchen, stainless steel appliances including a dishwasher and garbage disposal which are rare amenties in Panama. All of the doors and cabinitry in the home are solid wood.
The main house has:
• 4 bedrooms
• 2 bathrooms
• Large open living room
• Large open dining room
• Appliances will stay with the house they are new
• Custom wooden mini blinds
• Fans in all the rooms
• New Panasonic split units in each room
• Large sliding glass door leading to the patio
• 2 car electric garage
• All fully secured property
There is another section of the house that is seperated by the garage, and also has its own private entrance via a courtyard. This section of the house consists of 3 small apartments/studios. Two of the apartment/studios consist of 1 bedroom, 1 bathroom, 1 kitchenette and a small living/dining area and the third apartment/studio consists of 2 bedrooms, 1 bathroom, a kitchenette and small living/dining area. These apartment/studios have great income producing potential, and because of their seperate entrances are very private from the main house.
There are currently 3 very large rental pools to draw from, all within 10 minutes drive of this property. They are:
1. Canal Expansion contractors: Balboa is the heart of Canal Country and with the Canal Expansion there are hundreds if not thousands of foreign contractors that need housing. The rental prices in the Reverted Areas are very inflated and the demand very high.
2. City of Knowledge: The city of Knowledge is an Info Technopark which is home to such organizations as the UN, The world Food Programme, UNICEF, a large list of embassies included the US Embassy to name just a very few of the expansive list.
3. Panama Pacifico: Panama Pacifico is a 1400 HA mega project with special labor and tax incentives for large corporations. Thus far the largest associated with Panama Pacifico are DELL, Caterpillar and 3M. Panama Pacifico is a long term project which is not be completed for another 20 years. Its just getting started and there are waiting lists for new industrial, commercial and residential spaces within the developmen. Panama Pacifico is the 2nd largest development in Panama next to the Canal Expansion.
There apartment studio section of the property consists of the following:
• 4 bedrooms
• 3 bathroom
• 3 kitchenettes
• 2 storage areas
• A/C in the rooms
• Separate entrance area
This property is located in the area of Balboa which is very centric and within 10 minutes of Panama City, and within 5 minutes of Albrook where one can find all amenities needed for everyday living.
This property is listed at an exceptional price and the owners are very motivated to sell. Don't let this opportunity pass you up!
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