Full Description
Situated on the north coast of Nassau, this executive?development? fronts onto a lovely beach and offers an infinity pool, spa, fitness centre, tennis court, sun & BBQ lounge, a concierge service and lavish?tropical and water gardens.Apartments are pre-wired for high speed internet & cable TV; the development also includes private garage & 24 hour security.This project consists of?luxury 1 to 3 bedroom apartments, which are ideal for the local rental market, with executives from the banking and insurance industries seeking 12 to 24 month rental agreements. ?Prices are approximately 15% below prices for comparable new build developments in this part of Nassau.Phase?1 completion is scheduled for September 2008; phase 2 is?due to break ground in July 2008 for Autumn 2009 completion, the larger phase 3 is to follow.Local mortgages are available for up to 80% of purchase price, possibly 85%, at interest rates of between 5.25% and 6.5%, dependent on loan to value % and term of loan.? Certain mortgage products will provide residency and make income potentially non taxable.? Closing costs for purchase will be approx. 1% of purchase price.Expected rental income will range from $5,000 USD per month for 1 bedroom with den, up to $9,500 USD per month for a penthouse, providing a gross rental yield of between 8% and 11.4%.The monthly management costs will include buildings insurance costs, and will be charged at $530 USD for a 1 bedroom, $665 USD for a 2 bedroom and $875 USD for a penthouse.? Rental management costs for local a letting company is estimated to be about 2% of the annual rent, dependent on duration of the tenancy agreement.? Full luxury?furniture packs can be arranged if required.
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