Own Your Own Ocean Pardise!
Home # 1 Cream (home furthest from beach front): US$925,000.00
Home # 2 Peach or # 3 Blue (next set that are closer to the beachfront): US$975,000.00
Home # 4 Green or # 5 Yellow (Beach Front Homes): US$1,100,000.00
All offers to purchase are welcome.
The homes are all strata'd under the Cayman Islands Strata Law, meaning if you purchase a particular home, you would have freehold ownership of the individual home as well as shared ownership of the land & common areas such as pool, walkways, parking and landscaping under a Strata Corporation (owners of all the homes).
The Strata Corporation would have a board similar to a Condo Association.
Please visit http://www.caymanlandinfo.ky/Portals/0/ls_documents/laws/Strata_Title_Registration_Law_2005_Revision.pdf and http://www.caymanlandinfo.ky/Portals/0/ls_documents/laws/Strata%20Title%20Regulations%20(2006%20Revision).pdf for more information.
The monthly strata fees would be approx. US$1,100.00 which would cover general maintenance, maintenance of the pool, landscaping, Admin/Property Management, Electricity/Water for common areas, Insurance and Misc Fees.
The 5 homes are all currently operated as Short Term Vacation Rentals.
Since opening in July of 2010 we generally have had occupancy levels between 60% -90% which produce good rental income should a Purchaser wish to continue to rent in the short term rental market.
More detailed revenue/expense reports are available upon request after an expression of the intention to make an offer.