Income-Producing 80-Unit Residential Project

80-Unit Market Rent Residential Apartment Project currently fully-occupied and generating income.

This multi-family property is located northwest of, and just a short drive from the heart of the Historic District of Ponce, the most important municipality of Puerto Rico's southern region. Plaza del Caribe Shopping Mall, the fourth largest shopping center in the Island with 858,000 SF of Gross Leasable Area, is located about 7.5 miles from the Property, while the smaller but convenient Ponce Towne Center (anchored by SuperMax, Burlington, and PetSmart) and Reina Del Sur Shopping Center (anchored by Walmart Supercenter and Home Depot) are located just a 10 minutes drive.

Saint Luke's Memorial Hospital (427 licensed beds), Damas Hospital (356 licensed beds), Dr. Pila Hospital (212 licensed beds) and San Cristobal Hospital (138 licensed beds) are all located within a 10 mile radius.

In general, the Property is surrounded by supporting uses and facilities that cover all standard necessities for daily living, and at the same time, is also surrounded by nature, making this property an ideal residential location.

The Property is fully-occupied and has a tremendous upside potential with the increment of its current below-market rental levels.

All units are individually metered for utilities and the project has been converted to the Horizontal Property Regime (condominium), giving purchasers the flexibility of either owning a stable cash flow-producing asset, or selling off units individually.

Don’t miss this one-of-a-kind investment opportunity!

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Highlights:

• Asking Price: $7,950,000 ($99,375 per unit) or Best Offer
• Prime investment opportunity with stable cash flows
• Offers excellent Return on Investment, with tremendous upside potential upon increment of existing below-market rental rates
• Located in a suburban location surrounded by nature, but at a short driving distance from the Ponce Town Core
• Site Area: 19,651.9770 square meters, equivalent to 5.0 cuerdas and/or 4.86 acres
• Zoning: AP.4
• Flood Conditions: X (outside of flood prone area)
• Tax Code #: 364-000-007-47
• Year built: 2007 (last tower finished in 2021/2022)
• Total number of units: 80 (each individually metered for water and electricity)
• Number of buildings: 4
• Number of stories: 5
• Typical apartment layout: 3BR-2BA, balcony
• Typical apartment Gross Living Area: approximately 900 SF