This 3-Bed and 3-Bath Ground Floor Unit provides the Owner with a Vacation Home on Seven Mile Beach combined with a 5% Net Annual Income Stream of US $180,000. Besides investment returns, Laguna Del Mar #6 is a stunning ground-floor unit, which means direct access to the beach, particularly for the elderly and keeping a watchful eye on children. The Unit is beautifully furnished and fully-upgraded with easy access to the closest private garage of any one of the beachfront units.
The property is utilizing VRBO and other online booking platforms to generate gross revenue in excess of US$275,000 per annum and provides the owners the flexibility to utilize the property themselves between rentals.
As compared to most condos on SMB, this unit is exceptionally wide with the master, dining and living having expansive beach and water views which also results in more light coming in. Ultimately the beach is valued based on frontage, so every front foot you have as a unit, is additional value.
Laguna is very centrally located in the heart of SMB and is within walking distance to Camana Bay along with many restaurants and shops. Tenants do not even need to rent a car as they have everything within walking distance which adds to vacation rental appeal for tourists. A rarity on SMB, the property has a tennis/pickle ball court. The entrance view of the unit is a beautiful lake with friendly tortoises and ducks that live on the property. Its a wonderful place for kids and adults alike to go and roam, whether going to the beach, the lake or the stunning pool on site accompanied with hot tub, grill, bar and entertainment area. The pool area is perfect to have functions, parties, or just to go on laze around by the pool and relax surrounded by green with the lake as a backdrop.
Long term, this parcel and property have an exceptional opportunity for redevelopment due to the large size of the site in total and the very low density. There are only 35 units in total, with a frontage of 400 feet and a size parcel of 4.72 acres. Due to the immense size site, it lends itself not just to condominiums, but it does lend itself to being a hotel site as well. From an investment standpoint, you are purchasing at a very reasonable price at under US$1,500 per square foot for todays market, with all the potential of what is to come with redevelopment and the growth of the island.
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RE/MAX, which stands for "real estate maximums", was founded in the 1970's by Dave and Gail Liniger in the United States of America. They developed a unique franchise system that allows real estate agents to maximize their potential by having the security of a franchise while at the same time having the individual freedom to run their own business. Today the RE/MAX network comprises over 6,000 offices with around 90,000 associates in 85 countries. RE/MAX Cayman Islands is one such independently owned and operated office within the real estate network of RE/MAX International and RE/MAX Caribbean/Central America. The office at 7 Mile Shops on West Bay Road unites 20 Cayman real estate professionals and nine administrative staff under one roof. All of our associates and administrative staff are highly experienced and constantly expand their knowledge with ongoing training. Every real estate agent in Cayman uses the synergy potential. Not only synergies within the office are important; we also work closely with RE/MAX offices all over the world as part of our international referral system. Locally and internationally, we are dedicated to maintaining a high degree of visibility which will benefit our highly valued customers and clients as well as our Sales Associates. A comprehensive marketing strategy across all media including print and internet ensure our consistent exposure. We are well established in the Cayman Islands realestate market as a strong office, capable of producing outstanding results. Referrals from satisfied buyers and sellers are a proof of it as well as the many awards the office has received. Top Office in Total Sales Volume Single Office International 2012 2011 2009 # 1 Top Office - Sales Volume # 1 Top Office - Transactions RE/MAX Cayman Islands values the Cayman Islands community and is involved in various local charities, sports clubs and events. Each associate and supportive staff member dedicates time and money to community projects.