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"Price reduced from 425,000 to 325,000"
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Rabbit International Luxury Property in the Caribbean
Rabbit International |
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| Rabbit International Santo Domingo, Domincan Republic real estate |
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Email Rabbit International |
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Phone: |
1-809-518-2801 |
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Business: |
809-518-2801 |
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Cell: |
1-809-605-8844 |
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Fax: |
809-518-2801 |
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Address:
Small Hotel for sale in Zona Colonial, Santo Domingo, Dominican Republic
Type: Commercial
Style: dont lose this oportunity
Bedrooms: 10 "11 rooms hotel"
Bathrooms: 10
Size: 395 sq. m. "nice size"
Lot Type: Rectangular
Year Built: n/a "nice reception"
MLS®: AH-018
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This is a great investment for someone who wants to earn an income from day one, and you can also improve the property if you want to grow your investment. The owner is forced to move back home to take over the family business. This is one lucky person's chance to snap up a business, real-estate and an income in one go!
Located in the capital city of Santo Domingo, Foreigners Club Hotel is a 11 room bed and breakfast/ hotel/hostal designed in an Art Deco style. In has been a family run business for 6 years, when the original property was completely renovated and redesigned. The building includes a courtyard, lobby, kitchen, laundry and cleaning facilities, rooftop deck, and a second floor balcony.
The business is currently rated #1 Bed and Breakfast in Santo Domingo on Trip Advisor and has been for over a year. It has a review rating in the 80th and 90th percentile on other travel/hotel sites. Over the years it has built up a solid base clientel of return customers and word of mouth guests from around the world as well as a steadily increasing amount of visitors from recent (last 2 years) online publicity, via networks like Expedia , Hotels.com, Hostel world, Trip Advisor etc. Yet the hotel capacity is around 30%, so there is still much room for growth.
Each room is slightly different but they all include a bathroom with toilet, sink and showers with hot and cold water; twin, double, or queen size bed; individual air conditioner unit, ceiling fan, mounted digital cable and television units, bar fridge and safe. The hotel consists of two stories with the possibility of adding another floor.
The top level which at the moment consists of a small bedroom and bathroom and a large terrace could be turned into a luxury penthouse suite or a bar/restaurant to maximize income. |
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The average income is US$6500 per month, but could be doubled with a bit of improvement and investment.
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Approximate Income and Expenses: Last year income: $72,364 USD (room charges)
$ 7,904 (airport pickup fees $38 x 4 per week x 52 week) TOTAL $80,268
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Monthly breakdown of income and hotel reservation sheets are available upon request.
Total- apx. $80,000/year 2010-2011.
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EXPENSES Payroll: Manager, per month DR$11,500 Security + Cleaner DR$11,200 Part time front desk 5000 TOTAL DR$ 27,7000 TOTAL IN USA DOLLARS US$728
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Electricity: DR$10,000 Water: DR$ 2,000 phone and Internet: DR$ 4,000
Cable (10 boxes) DR$ 3,600 Trash : DR$ 500 Tax: (DGII) DR$ 1,800
TOTAL Expenses DRR49,000 (USD $1,300) per month
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The top level which at the moment consists of a small bedroom and bathroom and a large terrace could be turned into a luxury penthouse suite or a bar/restaurant to maximize income.
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Building has a back-up electrical system of an inverter with batteries and a gas powered generator.
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Nestled at the edge of the Zona Colonial and the New Zone, this area is bustling, but safe and charming. The property is located on the corner of a vibrant residential community
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Opposite Foreigner's is San Pio-X children's school and church; a corner store, or “Colmado”, and a long time barber shop. This is authentic Dominican Republic,
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not an anonymous corporate hotel or sterile resort, here the streets are full of fruit vendors, horse drawn carts with produce, and families socializing and playing chess on the sidewalk.
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