Ocean View, Beachside Duplex

BEAUTIFUL NEWLY REMODLLED BEACH SIDE DUPLEX FOR SALE

$159,500 NEGOTIABLE USD.

PUERTO ARMUELLES.

INCOME PRODUCING ASSET. 7% return!

This beautiful duplex is now for sale. It is all clear to be titled.

60 second walk to the beach! Extremely cool due to the abundance of trees!

The lot is 400m2 with easy low maintenance gardens. Fully fenced with chain link.

This apartment consists of 2 bedrooms, the main bedroom is air-conditioned, the second bedroom has a loft bed with a duct through from the 1stbedroom for air-conditioning. All floors are tiled with porcelain tiles in a neutral gray. Amazing high ceiling which keeps the apartment very cool. Ceiling fans in bedroom one and living room. Copious amounts of counter tops for food preparation and lots of built in kitchen cabinets. Hot water in kitchen sink, bit of a luxury in Panama.

Bathroom has on demand hot water also. Laundry is directly outside the kitchen. Internal floor space 39m2.

Stepping outside onto a large patio overlooking a fish pond full of nocturnal flowering lilies and a peek at the ocean is an ideal place to sip your morning coffee. Actually you will probably end up eating your lunch and dinner there, also. The undercover patio area is approximately 18m2 .

The construction is of block with a galvanized metal roof, full ceiling with insulation, low side of the ceiling measures approximately 3 meters will the higher side reaching almost 4m. All the windows and doors have both screens for bugs and security bars. All of the windows are pvc frames. Separate septic sewerage system.

2 STORY APARTMENT

The apartment is built from m2 type polystyrene with cement render down stairs and cement sheet and plaster board upstairs. The ground floor is 27m2 and an outside laundry cooking area of 9m2. Upstairs inside floor space is approximately 20m2 and the undercover balcony is 26m2.

The area upstairs is more like a loft, everything is totally open to take advantage of the sea breezes. 3 sets of French doors and 2 windows, there is almost more open space than walls! Again there are screens on all doors and security bars on doors and windows. The windows are all pvc frames. Flooring upstairs is beautiful Italian porcelain tiles 50cm x 100cm original price $100 per square metre! There is a toilet and wash basin upstairs to save you a trip down in the night. On the balcony and from the bed you have an ocean view! All other doors and windows look out onto palm trees, it’s almost like living in a tree house. Upstairs ceiling is cement sheet with insulation under tin, the roof tin is approximately 2 years old.

There is a toilet and wash basin upstairs to save you a trip down in the night. On the balcony and from the bed you have an ocean view! All other doors and windows look out onto palm trees, it’s almost like living in a tree house. Upstairs ceiling is cement sheet with insulation under tin, the roof tin is approximately 2 years old.

Downstairs has a kitchen, living room, bathroom, laundry and approximately 20m2 of undercover area.

The property has a back up water tank, with a pump; the on demand gas hot water is shared by both properties. There is one water supply, $6 per month and garbage collection for both units is $5 per month. There is one electricity supply to the property the 2 story apartment has a meter on the fuse box to divide up the monthly bill, which normally comes in under $50 per month.

The down stairs apartment has a fixed lease until February 11, 2019 for $400 per month, tenant pays internet and electricity.

The upstairs apartment has a fixed lease until June 1, 2019 for $450 per month, tenant pays internet and electricity.

This property would be ideal for someone wanting to retire in panama, live in one side and rent out the other. Or for the astute investor to get in now before the prices go up and sell with a nice capital gain whilst enjoying a fantastic return on your money. Or just enjoy the fantastic return on your investment.

Puerto Armuelles is a typical coastal town that is about to pull itself out of the mire. Do some research on the net and you will see that it will be hotting up very soon. The town has all the amenities that one needs and the prices of real estate haven’t escalated too much yet. We have a hospital, with a new one under construction, a Romero supermarket, various banks and numerous variety stores. We are about 30 minutes from the border and an hour and a half or less to David the major city of Chiriquí.

The property is situated approximately 5km out of Puerto in the barrio called Coronado, just along from Corazon de Jesus. If you like the ocean, you can do as I do, take your morning coffee on the beach watching the sun rise all by yourself. It’s still relatively quiet out here with the occasional fishing boat pulling in or the expats from Corazon de Jesus or Cucuyi enjoying their early morning stroll. Or you can jog the beach or surf the waves if you are healthy enough.

The only stipulation that will be written into the contract is that the leases that are in place will need to be respected.