LOT 315, 4-PLEX OF HOTEL SUITES (“KEEPING SUITES”) AT MAHOGANY BAY RESORT & BEACH CLUB – CURIO COLLECTION BY HILTON

Description

Once-in-a-Lifetime Income Generator

Each Lower Keeping Suite Features:
630 sq ft
Bedroom: 2 queen beds, cozy window seat
Bathroom: double vanity, outdoor-style shower
Kitchenette: eat-in table, induction cooking element, coffee maker, cookware, dishes, glassware, utensils, under-counter refrigerator
Home office desk area
Spacious, covered, screened-in front porch
Covered rear porch facing the canal front garden

Each Upper Keeping Suite Features:
490 Sq Ft
Bedroom: 1 king bed, window lounge seat
Bathroom: outdoor style open-air shower
Kitchenette: eat-in table for two, induction cooking element, coffee maker, cookware, dishes, glassware, utensils, under-counter refrigerator
Home office desk area
Reclaimed entry porch lounge with 180° views
14′ vaulted open beam ceilings

Enjoy your own 4-plex of hotel suites located within Ambergris Caye’s most popular resort community – Mahogany Bay Resort and Beach Club, CURIO Collection by Hilton. All the resort amenities you could ask for, with four (4) separate oversized hotel suites for personal usage of rental income, as you prefer. This Keeping Suite parcel, Lot 315, is located on Street 3 closest to The Great House, swimming pool, fitness center, and the many restaurants and bars throughout Mahogany Bay Village. Simply put, there is no better location of Keeping Suites in Mahogany Bay Resort! Location, location, location!!

Owning this Keeping Suite lot gives you both unlimited personal use and enjoyment (lifestyle investment), as well as access to passive income from the turn-key hotel rental operation (financial investment). Mahogany Bay Resort has the highest market share of any hotel property on Ambergris Caye. And while the resort, and all of Belize, is still recovering from the impact of COVID restrictions on travel and tourism, the Q1 2022 figures are in, and Lot 315 had a net income of $7,353 US for Q1!

What we have to offer is this striking modern two-story 4-plex of hotel suites built in a traditional Caribbean wood-style that offers quintessential tropical indoor/outdoor living, just steps from the ocean (ok, more than a couple but less than a long walk). Newly completed in 2016, this 4 total bedroom, 4 total bath rental building plus unique bonus flex space offers adaptable rooms, high ceilings, and rich natural light.

The units boast magnificent polished hardwood counters, exposed wood beam, & dynamic sconces which offer the perfect balance for casual and formal entertaining and vacationing alike. The verandas offer magnificent views of the tropical landscaping of the village along with the quiet and serene boating canals abutting the back of the buildings. Glass louvers open to a 180 degree views, and each unit comes equipped with all the appliances needed for immediate rental/vacationing accommodations.

The Lower Keeping Suites offer an open floor plan, two queen-size beds, kitchenette, work desk, double vanity bathroom, and spacious veranda. It’s the perfect retreat for two friends traveling together or a small family. All Lower Keeping Suites include WiFi, air-conditioning, flat-screen TV, closets, safe, and luxury bedding.

The Upper Keeping Suites are a spacious open one-bedroom floor plan that’s perfect for an individual or couple. It features a king bed, open-air shower, kitchenette, and reclaimed porch with 180° glass louvers to enjoy the views and sea breeze. All Upper Keeping Suites include WiFi, air-conditioning, ceiling fan, flat-screen TV, safe, closets, and luxury bedding.
How desirable are these units? Prior to the onset of the COVID pandemic these units were operating at 60-80% nightly occupancy rate and appear to be quickly climbing back to those pre-covid numbers now that travel restrictions have been lifted and tourism has started to rebound.

For the number crunchers among you, here are some cold hard facts you won’t want to miss: At $720,000 US sale price, the improvements (w/furnishings) on the property are being sold for $545,000 (since vacant lot prices in Mahogany Bay are $175K US. And climbing). The furnishings for a 4-plex of Keeping Suites (to Hilton standards) comes to approx. $88,000 US. So subtracting furnishings and land cost, we are left with $457,000 for the sale price of the 4-plex (4 hotel suites) improvements. That equates to a per door cost of $114,250 US for improvements. At 2,240 total sq.ft., that works out to a cost of $204 US per sq.ft. build cost! Do not miss out on this once-in-a-lifetime opportunity to own and invest in your own rental 4-plex in Mahogany Bay Resort and Beach Club – Ambergris Caye, Belize’s most popular resort destination.