Beach front apartment for sale in Puerto Galera Philippines
Puerto Galera beachfront apartment rentals business for sale
Currently returning 40,000 Pesos monthly with potential of up to 720,000 per year
Easy walk in – Walk out for cash purchase
Located in a tourist town which attracts 1,000’s of foreign tourists and in a quiet local neighborhood mixed with Australian, British and American expat property owners. With no more vacant lots available on Dulangan main beach, this is now an opportunity to secure the property, building and ongoing, well established rental business.
Overview of the property:
Aldanmar Apartments “on the beach”, was constructed in 2004 by an Australian expat and his Filipina wife. This was the 3rd only substantial building in the neighborhood constructed by an expat. The land area from beach shoreline to road is 400 square meters.
Floor area of each apartment from 90 square meters to 115 square meters, totaling 280 square meters built on 3 levels, uniquely built against a hill with solid foundations/footings at each level. This is not a free standing 3 floor building and can withstand any type of natural catastrophic event such as earthquake, tsunami or typhoon/cyclone.
The top floor at road level consists of a tiled 2 bedroom apartment with terrace and panoramic views over Varadero Bay, Verde Island, through to the mountains of Batangas Province. The 2 apartments below are separated left (Green) and right (Red) side of building, each with internal stairs from the second floor bedrooms to the first floor living/kitchen/bathrooms, then extending onto beach via terraces built at 2 meters above sea level.
There are 3 separate electric meters to each apartment for independent billing by the supplier, with switching to a gasoline generator for times of power outages. The water supply is constant and reliable mineral spring water from local neighborhood storage tank to a tank at the apartments. Every room has a Television cable connection and signal is received over fiber optic cable to the building. Internet wifi covers the entire building inside and outside areas from a reliable 3G wireless connection to Globe Telecom tower.
Existing Building, Sanitary and Electrical Permits were granted at construction with land property taxes paid up to date. All official documents are held by the owner and digital copies available for for viewing online. Real property ownership title is granted as first title holder from the Department of Environment & Natural Resources with no encumbrances or caveats.
Business is Registered with the Department of Trade and Industry as Aldanmar Apartment and operates with permits from Puerto Galera Municipality.
Targeting foreign tourists and expatriate permanent residents, the apartments have a higher than average occupancy for Puerto Galera apartments accommodation, due to the location on beach front. With less than 10 apartment/semi permanent accommodation businesses in the entire province or on Mindoro Island, a well established and proven strategic marketing plan ensures continued inquiries. Aldanmar Apartments offers a unique tropical beach experience to be enjoyed by visitors. Typical guests are a single foreign gentleman and Filipina partner but families and groups also are welcome.
With a declared income of less than 500,000 Pesos per annum, a flat rate of tax at 3% is payable on the gross business income and annual local government permits costs of 3,800 Pesos.
All existing furnishing, fittings and fixtures are included as seen on the pictures at the main rental website.
As a successful, ongoing business we are asking 15,000,000 (fifteen million) Pesos but open to offers
30 day settlement available on 5 % deposit, 60 days on 10% deposit, 90 days on 20% deposit (preferred option). Vendor to pay all conveyancing and transfers. Contract of conditional sale upon deposit can be arranged as such:
Filipino ownership of land with or without married foreign spouse nominated on title.
Filipino or foreign ownership of building.
Filipino ownership with or without foreign spouse nominated as business owner.
OR a Philippines Corporation can be arranged for a sole Foreign investor.
All leases and forward bookings transferred to new owner at settlement providing immediate income.
Utilities, advertising accounts with Facebook, Google, Twitter, Email and the website/domain will be transfered to the nominated person. Online booking accounts with AirBNB, Flipkey, IHA, Booking.com, AGODA and any others also transferred.
Serious inquiries can be made via the below form or contact page.