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    Irausquin Blvd Z/ Largo, FL 00000

    For Sale
    $16,500,000

    14-unit, beachfront luxury apartments

    Property size:
    28,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional 6-story, Class A apartment building, completed in 2024, presents a lucrative investment opportunity. Located in the prestigious Eagle Beach area of Noord, Aruba, this property boasts 14 luxury units, each with 1 parking space, ranging from 1700 to 2200 square feet. The building features a striking design with a triple-height atrium and modern, energy-efficient climate control. With a total of 28,000 square feet of net rentable space, the property commands a price of $16,500,000, or $589.29 per square foot. The pro-forma NOI is $1,100,000, yielding a 6.67% cap rate. Situated on a 2892-meter lot, just 400 feet from Eagle Beach, the building offers breathtaking 360-degree views and is surrounded by upscale hotels and restaurants. The property is zoned for tourist and hospitality use and benefits from a 50-year remaining ground lease. Ideal for short-term or long-term luxury rentals, this investment is further enhanced by Aruba's status as a hurricane-free, prosperous island with low yearly taxes (0.004%). The building's prime location and high-end finishes, including Italian kitchens and bathrooms, ensure strong rental demand. A construction moratorium until 2025 in the area adds to the property's value. This is a rare opportunity to acquire a luxury multifamily asset in one of the world's most desirable beach destinations. The property is held in a corporation.

    Property Features for 0 Irausquin Blvd Z/

    General Information

    Property type
    Multifamily properties
    Square Feet
    28,000 SF
    Class
    A

    Building Details

    Year Built
    2024
    Buildings
    1
    Stories
    6
    Units
    14

    HighLights

    • Luxury condo development in Eagle Beach, Aruba's prestigious Hospitality Pink area.
    • Limited inventory in the area creates high demand.
    • Prime construction and high‑end finishes, including Italian kitchens and bathrooms.
    • Aruba's location outside the hurricane belt and status as a prosperous Dutch Caribbean territory offer stability and low taxes (0.004% yearly).
    • Exceptional beachfront location near one of the world's best beaches.
    • High demand for luxury 2- and 3‑bedroom rentals.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Largo
    County
    Aruba
    State
    Florida
    Longitude
    -70.05331779
    Latitude
    12.55359838

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    FAQs

    What type of property is this?
    Multifamily property - 14-unit, beachfront luxury apartments
    Where is this multifamily property located?
    The property is located at Irausquin Blvd Z/ Largo, FL.
    What is the asking price?
    The asking price for this property is $16,500,000.
    What are key features of this property?
    This property features: Luxury condo development in Eagle Beach, Aruba's prestigious Hospitality Pink area.; Limited inventory in the area creates high demand.; Prime construction and high-end finishes, including Italian kitchens and bathrooms.
    Request Owner's contact information
    Irausquin Blvd Z/ Largo, FL 00000
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Irausquin Blvd Z/ Largo, FL 00000
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