Oistins Christ Church, NY BB26031

Property Details for 0 Oistins

Property size

9,600 SF

Property type

Mixed-use properties

Property subtype

Apartment buildings

Description

This exceptional 7-unit apartment building presents a lucrative investment opportunity in the vibrant Christ Church, Barbados. Boasting 9,600 square feet, this mixed-use multifamily property commands an asking price of $850,000, representing a compelling price per square foot of $88.54 and an attractive 8.74% cap rate. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $74,275 annually. The seven units comprise a mix of furnished two and three-bedroom apartments, and a two-bedroom cottage, generating a total annual income of $90,300. Detailed financial records show annual expenses of $15,125, encompassing water, Wi-Fi, property taxes, maintenance, and insurance. Ideally situated on Maxwell Hill Road, this property offers breathtaking views of pristine white sand beaches and is conveniently located near the renowned Oistins Fish Fry, Miami Beach, and Grantley Adams International Airport (a 10-minute drive). The property's prime location also provides easy access to public transportation, supermarkets, restaurants, banks, and other essential amenities. Barbados's reputation as a stable and transparent international business hub, with no restrictions on foreign ownership, further enhances the investment appeal. The apartments are currently rented on a monthly basis, but the property also presents potential for increased revenue through short-term rentals via platforms like Airbnb. This is a truly exceptional opportunity for discerning investors seeking a high-yield, beachside property in a thriving Caribbean location.