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Vieques,PR 00765
Key Details
Property Type Single Family Home
Sub Type Villa
Listing Status Active
Purchase Type For Sale
Square Footage 3,250 sqft
Price per Sqft $269
Subdivision Villa Borinquen
MLS Listing ID PR9104790
Bedrooms 7
Full Baths 6
HOA Y/N No
Originating Board Stellar MLS
Year Built 2006
Lot Size 0.270 Acres
Acres 0.27
Property Description
Calling all investors: High cap rate with tons of flexibility. This is a rare deal in Vieques.
Multi-unit building in Villa Borinquen, Vieques, PR with expansive views. In addition to an attractive return on investment, this building is perfectly setup for an investor to qualify for the bed and breakfast tax credit or guest house tax credit in Puerto Rico, resulting in 30-40% of overall acquisition costs paid back to the investor over the course of 3-4 years. Ask the seller for more details.
This building was fully renovated in 2022-2023 including: adding units, updating all bathrooms and kitchens, new tile, updating paint, concrete work, air conditioning,plumbing upgrades including the addition of hot water throughout the units, electric upgrades, new furniture, installation of water pressure pump, addition of cisterns for water storage, addition of solar,and upgrading the pool.
The property sits on .27 acres of land on a dead-end street, with mature fruit trees, flowers, and a fully fenced in yard. The 180-degree views of the ocean, Puerto Rico, St. Thomas, and St John make for the perfect Caribbean setting while enjoying ever-present breezes from the rooftop terrace.
All units share a common pool, outdoor kitchen, fenced in back yard, and barbeque. All units have air conditioning in every room, including common areas.
The 4 units are as follows:
Unit 1Three (3) bed, three (3) bath, living room, dining room, full kitchen, kitchenette, screened in porch, front porch, laundry, and private rooftop.
Unit 2 (downstairs): Two (2) bed, one (1) bath, living room, dining room, full kitchen, laundry, and private patio.
Unit 3 (downstairs): Poolside studio, kitchenette, bath, laundry, and screened porch.
Unit 4: Studio casita, kitchenette, bath, private rooftop. Can be rented with unit 1 as a 4-BR BnB.
Location
State PR
County Vieques
Community Villa Borinquen
Zoning R1
Interior
Interior Features Eat-in Kitchen,High Ceilings,Living Room/Dining Room Combo,Open Floorplan
Heating None
Cooling Mini-Split Unit(s)
Flooring Ceramic Tile
Furnishings Furnished
Fireplace false
Appliance Dishwasher,Dryer,Freezer,Range,Refrigerator,Washer
Laundry Laundry Closet
Exterior
Exterior Feature Balcony,Courtyard,Garden,Lighting,Outdoor Grill
Pool Gunite,In Ground
Community Features None
Utilities Available Electricity Connected,Propane,Water Connected
View Y/N Yes
Roof Type Concrete
Garage false
Private Pool Yes
Building
Entry Level Two
Foundation Block,Concrete Perimeter,Slab
Lot Size Range 1/4 to less than 1/2
Sewer Septic Tank
Water Public
Structure Type Block,Concrete
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition None