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El Magnifico luxury condominiums and apartments are the perfect investment
for those who frequently holiday in Cabarete and desire an investment
that will provide them with yearly income.
Purchase of El Magnifico units includes the following advantages:
- Sole ownership title of unit
- Nine (9) weeks owner occupancy of unit
- Group ownership of common areas
- Real estate services as required
- A rental management structure that strives for maximum return
on investment
- Daily maintenance & management of all units and property
for nominal fees ($16 US/day for apartments & $24 US/day for
condominiums when you are using your owner's weeks only).
Success
El Magnifico created its first building in 1988. Success of this
venture provided investors for building II in 1994, building
III in 1999 and buildings IV and V in the fall of 2002. Units
within buildings I, II and III have been sold 2 or 3 times over
since their original purchase and have always earned owners a profit.
Revenues
The majority of revenues are generated by excellent working relationships
with very important Tour Operators who bring guests
from all over the world to Cabarete.
Contribution of revenues also attained through website reservations
that are made directly to El Magnifico.
Occupancy of El Magnifico has been 65% on average over the last
7 years. In the next report, the addition of buildings IV & V should
increase net revenues and reduce operating expenses per unit.
Accounting is totally transparent and is available to all Investors
on demand by e-mail: info@lovethesun.com
Management
Management
of El Magnifico is performed by Gerard Hebert who has lived permanently
in Cabarete since 1984. As General Manager of El Magnifico,
he is provided with a 15% management fee. His management of the
property includes the following functions:
- Coordination and administration of building/unit purchases
including accounting and revenue distribution to owners.
- Maintenance of very good working relationship with Tour Operators
and other clients that provide the majority of net revenue.
- Management and maintenance of property and units in excellent
condition.
- Provision of real estate services on behalf of owners and arrangement
of legal services as required.
- Maintenance of El Magnifico web site for attainment of additional
revenues.
Availability
Price List (Prices in US $)
Building I
|
| Penthouse |
110 m² - 1,184ft² |
-- |
Sold |
| Junior suite (De luxe) |
65 m² - 700 ft²
2nd floor |
-- |
Sold |
| Junior suite (De luxe) |
55 m² - 592ft² |
-- |
Sold |
| Junior suite |
55 m² - 592 ft²
1st floor |
-- |
Sold |
Building II
|
| Penthouse |
142 m² - 1,528 ft²
2-3rd floor |
-- |
Sold |
| Loft A |
50 m² - 538ft² |
-- |
Sold |
| Loft B |
55 m² - 592ft² |
-- |
Sold |
Building III
|
| Penthouse |
140 m² - 1,507 ft²
Third Floor |
-- |
Sold |
| Apartment B |
140 m² - 1,507 ft²
Second floor |
US$ 330,000 |
For Sale |
| Apartment A |
140 m² - 1,507 ft²
Ground floor
|
US$ 238,000 |
For Sale |
Building IV
|
| Penthouse |
286 m² - 3,078 ft²
Third Floor |
-- |
Sold |
| Apartment B |
181 m² - 1,948 ft²
Second floor |
-- |
Sold |
| Apartment A |
174 m² - 1,873 ft²
Ground floor |
-- |
Sold |
Building V |
| Penthouse |
234 m² - 2,519 ft²
Third Floor |
US$ 380,000 |
For Sale |
| Apartment B |
144 m² - 1,550 ft²
Second floor |
-- |
Sold |
| Apartment A |
138 m² - 1,485 ft²
Ground floor |
-- |
Sold |
Building VI |
| Penthouse |
233 m², Third Floor |
-- |
Sold |
| Apartment B |
213 m² - 2,293 ft²
Second floor |
-- |
Sold |
| Apartment A |
213 m² - 2,293 ft²
Ground floor |
-- |
Sold |
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