COMPASS POINT CONDO - GRAND CAYMAN
INVESTMENT OPPORTUNITY
25% or50% Ownership Opportunity on the East End of Grand Cayman Best unit in the development ! Top end unit / Oceanfront / Two bedroom, 2 bath, fully furnished and equipped, 1100 sq ft. Huge balcony overlooks the ocean ! - Phase 1 is approx 7 years old
- PADI 5 Star, full service dive center on premises with pool and sun deck (Ocean frontiers)
- Two buildings on site (Phase 1) one bldg consists of 9 one bedroom units, bldg two consists of 9 two bedroom units. Total 18 units
- This is an ownership equity position - NOT a time share
- No mortgage or liens on the unit or property
- 25% ownership offered for $95k US - 50% ownership offered for $180k US
- No brokerage fees
- Built in equity from day one. Est. comp. sales $423,000 /provides an estimated $20k equity @25% ownership; est. $51k @50% ownership subject to change
- Owner financing may be available
- There is a one-time 6% "Stamp Duty" tax payable at time of transaction to the Cayman Government. (This is a real estate tax paid once) govt. % subject to change
- Unit pays for itself - meaning the rental fees generated will carry over to offset operating costs with some residual cash which has remained in the management account to cover any additional expenses that may occur
- Currently, three local Va. owners (BP 25%, PJ 25%, BM 50% )
- Will consider a 100% sale
- On site property and rental management - total "turn-key" operation, including all utilities and insurance
- Not looking for additional funds currently on deposit in the properties reserve capital account for furniture, etc Valued at $10k
- 25% owner receives two "any time" weeks of year for use or to sell/ donate, etc - AND any other time use within a 14 day reservation window as long as the unit is available
- 50% ownership receives four anytime weeks, 100% 8 anytime weeks
- Ownership includes a 15-20% discount at Ocean Frontiers Dive Center onsite dive shop
See Compass Point by going to www.compasspoint.ky or Contact: Bob Potterton at bpotterton@cox.net (703) 475-0779. |