Lime Tree House
4 Unit Multifamily home in Road Town for sale! The property comes with an extra 1/3 of an acre of land right next to Pasea Apartments.
This amazing location is pinpointed right above the BVI Red Cross Building. The extra 1/3 of an acre of buildable space is located right next to the Pasea Apartments ( Above Treasure Isle) those apartments rent for $3500 each on avg.
The potential to do something similar with the extra land is obvious.
Even before that the current structure of the 4 unit property has the ability to bring $5600-$6000 per month in rental income of $67,200-$72,000 per year. At the current asking price this represents an ROI of 8-9 %.
The property consists of :
- A large 2 bedroom apartment with deck and pool $2300-$2700
- A large 1 bedroom apartment with deck $1600
- A medium-sized 1 bedroom apartment with large deck $1450
- A studio that will need a small kitchen area for $700.
The views extend above Road Town where you can see comparable residential properties like Tobacco Wharf and Village Cay. The property is a short 7-minute walk to Road Town and a meager 2 minutes drive.
The property is move-in ready or in need of upgrades depending on your vision for a rental property.
What is clear is that if you are seriously looking to add passive income to your portfolio in a growing BVI rental market, NOW IS THE TIME!