Sure income-generating apartment & dormitory in URGELLO Street very near PHINMA -Southwestern school @ P58M

For Sale: Commercial lot with a sure Income- generating 30-unit apartment /dormitory type , located just a few meters away from Phinma school/SWU in Urgello, Cebu City - The property holds a two-way well-paved road and it is always fully occupied with tenants because of its very strategic location. The structures/buildings are already old yet their income is guaranteed with less overhead cost. The income of this property can still be maximized if the whole lot area is fully utilized or new buildings (mid-rise or high rise ) will be built.

Property Type: dormitory and apartment
Titled Property
Lot Classification: commercial-residential

Location: Sambag 1, Cebu City.
Neighboring Establishments:
* Phinma /Southwestern University, Elizabeth Mall, City Mall
* 150 meters away from Aznar Coliseum
* 650 meters away from Osmena
Boulevard
*900 meters away from N. Bacalso Avenue

Note: PHINMA school will soon open another school gate near this property- This means this property is just within sniffing 8-10 meters distance from PHINMA SWU.

The property is gated and fenced

Lot Area: 537 sq.m.
Road Frontage: 42.93 meters
The property holds a two- way well-paved barangay road
Lot terrain: all.flat
Lot shape: seemingly square with a curve because of.the road

Existing income- generating structures:
A. 4-storey concrete apartment with 16 bedrooms ( 2nd floor, 3rd floor and 4th floor)and one small eatery at the ground floor. It has 5- car garage area.
Floor area of the building: 1,080 sq.m.

B..2-storey concrete apartment with 12 condo type en-suite units. Floor area: 232 sq.m.

C. One-storey commercial building with a floor area of 60 sq.m. This is tenanted= more on foods snacks bar and/cafeteria

All units of the three.buildings are.occupied or tenanted

Collection system of the tenants rental is all digitalized or of cashless system

Maintenance staff is just by retainer agreement or on-call if needed. This is of less overhead cost .

Actual monthly income: Php 321,500..

Selling Price: P60M ( negotiable)
Sale transaction:
Buyer's account: transfer expense, doc stamp tax
Seller's account: capital gains tax, broker's fee, notarial fee and updated real property tax and estate tax

For inquiries and assistance, please contact:

MARIQUITA "KETS" L. BOLIGOL
Licensed Real Estate Broker
License # 0005770
Cebu City