Luxury Income Producing Vacation Home With Great Location On Rental Row In Manuel Antonio
If you are looking for an income producing real estate asset, this property should be put on your list of “must see” properties! We’ll just start with a check list of why this home is a home run as a vacation rental:
- Location: The home sits right on what we call “Rental Row” in the exclusive Vista Azul neighborhood of Manuel Antonio. This area is the most popular tourist destination in Costa Rica and this street features the most expensive vacation homes in Manuel Antonio. The finest homes were built here because they have the million dollar ocean views that everyone is looking for, it is extremely close to Manuel Antonio National Park and it is within walking distance to shopping, dining and nightlife.
- Price: The asking price is listed well below market value and the owner is motivated to sell. A tremendous amount of concrete, steel and hardwood was used in the construction and if you were to build this home today, it would cost you well over a million dollars for construction alone. Now factor in the prime land value plus the cost for furnishings / finishes and now we’re talking about an incredible deal.
- Flexible Rental Options: The home has three stories that can operate independently as three separate vacation rentals. Each floor has private bathrooms and kitchens so you can rent simultaneously to a series of small groups or rent out the entire place to a large group. When you own a vacation rental in Costa Rica, having more options to accommodate people is a very good thing so you don’t have to turn away business.
The rental income on this home is bringing in up to $5,000 per week and we think with a few additional touches plus additional marketing, it could bring in even more. The home has professional management in place and is selling turnkey ready today.
More Information About The Home’s Layout
When you enter the home, you immediately get the sense that you are in a boutique tropical hotel by the beach. Each floor has covered balconies that lead to luxurious outdoor lounges where you sit back and soak in the breathtaking whitewater ocean view. The first floor includes 2 bedrooms and baths plus a full kitchen and a spacious loft for entertaining. We feel this floor would be an ideal location for an owner who wants to live on site and manage the property from home.
The second floor has 3 bedrooms / 3 baths, a full kitchen and spacious common areas. One of the bedrooms on this floor is offset from the others and is currently being utilized by an on site property manager that handles all guest services. It’s a perfect solution for maximizing rental income on all three floors while still having someone on hand around the clock to attend to your guests’ needs. The 3rd floor has a fully equipped kitchen, a single bedroom and bath. This floor is great to rent out to individuals or couples with minor housekeeping required after checkout.
The base of the property features a spacious ocean view pool area surrounded by lush rainforest with mature tropical trees. This is a fantastic place for entertaining that includes an outdoor kitchen, wet bar and private bathroom with shower. When looking back at the house from the pool deck, you really get the sense that this is more like a hotel than a private home. In many ways, it is.
If you are looking for a really good deal on a one-of-a-kind income producing property in Costa Rica, you should pay this place a visit.