| Didn’t think you could own for $100 or less in Costa Rica? It’s still possible, and it’s possible at Ventimiglia!Ventimiglia is a 2-story development of condo units located in the downtown area of the popular and fast-growing resort town of Playa Del Coco. Right next door is the upscale Pacifico project. Playa Del Coco is also home to the popular Ocotal Beach Resort.
Just a short 2 minute walk away you will find a bank, grocery store, shopping, restaurants, bars, and casinos. Just a 5 minute walk away is the beach.
Playa Del Coco is the fastest growing beach town in the region, and the condos in the Ventimiglia project will be the last brand new units for under $100,000 available in Coco ever again.
Construction on Ventimiglia was recently completed in November 2007, and all of the available units have never been lived in.
Each unit is 406 square feet indoors, with 32 square feet of private terrace. They are all 1 bedroom, 1 bathroom, with an ample kitchen and attached living space - much more appealing to tourists than a smaller, more expensive hotel room.
Some units are furnished, with the furniture package including bed, armoire, dining table and chairs, tv with cabinet, foldout couch, full kitchen cabinet and countertop set, range/oven, refrigerator, split air conditioning system, complete dinnerware and cookware, and a complete towel and linen set. If bought without the furniture package, the unit comes finished but completely empty.
INQUIRE ABOUT VENTIMIGLIA |
| Investment Analysis of Ventimiglia
The units may be small for someone looking to live there, but they are a great alternative for the traveler who wants something with a kitchen and a more inexpensive than some of the hotels in the area.
The great location makes it extremely appealing to tourists, and the rental rate ($40-$150/night) is also appealing. Even with these low rental rates, there is still potential for a cap rate of around 8% and possible positive cash flow (depending on your loan).
Consider using your self-directed IRA to purchase one of these units!
Investment Grade: A- |
Colinas Del Coyolar is one of my investment picks, and it doesn’t disappoint! I recently received some preliminary rental rates and Colinas appears to have a lot of great investment potential, as well as being in an excellent location (6 minutes from the beach, 40 minutes from the international airport at Liberia, as well as close to a variety of national parks and other popular sites).
You can download my investment analysis (see below) and play around with it using your own preferences (lot, home plan, financing, etc.) to evaluate how Colinas Del Coyolar works for you as an investment.
And one final note: this spreadsheet does try to use accurate and reliable information, but it is subject to change at any time. In some cases, assumptions have also been made (typically noted in the comments). Please use this spreadsheet as just one of the tools you would use to help you make a decision as to whether you wish to buy a lot and build at Colinas Del Coyolar.
