santo domingo, costa rica
A UNIQUE PROPERTY WITH IMMEDIATE COMMERCIAL OPTIONS
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LOCATED IN THE CENTRE OF COSTA RICA
Three hours drive to the Pacific Coast and its beaches and tourist destinations.
Four hours drive to the Caribbean Coast, passing through rainforests and tropical plantations.
Easy access to all national destinations including zoos, spas, volcanic landscapes, rain forests, and national parks.
Ten minutes from San Jose, and forty minutes from the international airport.
Neighboring properties include Hotel Bouganvillea, with its park setting, extensive gardens, pool and tennis courts, and Casa Zen, the most respected meditation center in Central America.
The house is designed to function as either two self-contained rental properties or as one extensive personal residence. Currently, the North apartment is rented on a long-term basis while the South unit is rented fully furnished as a luxury short term vacation unit.
As a combined single unit, the house features:
2 full eat-in kitchens.
4 bedrooms with closets
Veranda with spectacular garden views.
Private Driveway and Gated Entry with 2-car garage
One of the most unique features of this property is the extensive and mature tropical garden. This goes well beyond conventional landscaping, forming a true botannical paradise. It features mature trees of many kinds and gorgeous tropical flowering plants. Destinations within the garden are linked by bamboo arches, hidden walk ways, and cozy nooks. There is a productive orchard with lemons, limes, oranges, clementines, tangerines, avocados, bananas, and mangos,among others.
Beyond the house and gardens is a 2-hectare cafetal (coffee plantation) with permissions enabling multiple options for commercial use.
These include industrial, warehousing and other business configurations as well as residential development or a combination of the above, all permitted under the regulatory and access framework.
Alternatively the cafetal could be deployed for specialist botannical use, for example a plant nursery or an orchid or bromeliad production facility (for which the climate is ideal).
Under a “ personal-business” scenario, the buyer could retain the existing house and gardens for personal or group use and use the adjacent cafetal for the construction of warehousing, factories, greenhouses or any other industrial purpose.
Under a “condominium use” scenario, the buyer could construct a residential condominium property with up to 34 residential units, including houses, lots or apartments.
Under a “mixed use” scenario, the buyer could develop combined productive and residential units, using part of the garden and cafetal as a residential condominium and deploying the rest of the cafetal for commercial/industrial use.
Acquire a personal or group residence, with complete privacy, while running a business in the adjacent cafetal. Construct factories, greenhouses, warehouses or any other industrial or retail infrastructure while benefitting from a quiet and totally private natural ambience. Take advantage of mature gardens and convenient facilities of every kind, located in one of the best climates in the world. The property is ideal for horticulturalists, nature lovers, or those looking for complete seclusion. while providing direct access to the capital and all transport links.
FOR USE AND DEVELOPMENT
Develop the cafetal for expanded residential use,
The buyer could develop a residential condominium property with up to 34 residential units, comprising houses, apartments. or lots.
Alternatively the property could be developed for group or institutional use. The site and permissions permit schools, universities, religious institutions, sports complexes and more.
LOT PARTITION AND SALE
An alternative option is to divide the property into private lots that may be sold off to reduce the purchase price or generate substantial profit. As of today, 8 lots have already been severed in the Eastern sector of the cafetal and may be either sold off individually at prices of up to $250 per square meter or retained for future sale or other use. A further segregation of 8 lots is underway in the Western sector of the cafetal.
The garden area, which features beautiful, mature landscaping, could also be severed and divided into large lots at prices of up to $350 per square meter.
A buyer could easily sell off some units to reduce the net cost of acquisition, while retaining the house, garden and commercial or industrial space.
The vendor has established a 35 unit residential masterplan that can be directly implemented in full or in part by the purchaser, while leaving the house and garden for personal use. This provides a basis for immediate lucrative development and could reduce or eliminate the purchase price.
The basis for this materplan is an existing written agreement with the Municipality of Santo Domingo that provides multiple units of potable water (35 units in total) as well as connection to a high-capacity existing Municipal drainage system, located on the property. Obtaining water and drainage rights in Santo Domingo is normally difficult and tedious and can take many years. It is the fundamental prerequisite for residential development, and the single most difficult part of the entire regulatory approval process.
The buyer will acquire all rights conferred under this existing agreement, which is fully transferable.
The other crucial advantage of the property is that it is bounded by, and enjoys access on three sides to,a network of “Calles Publicas” or Public Roads. Having direct access in this way allows the property to be severed and sold in part, or in total, as individual lots. The Masterplan incorporates the sale of lots as well as the construction of additional apartment housing in a sequenced process designed to eliminate risk and generate construction capital.
The Property is bounded by a network of Calles Publicas that enable the severance of lots as part of the development MasterPlan.
As part of the buyers “due diligence” process, the vendor will specify and demonstrate the valuation of the property on the basis of this masterplan and the precise steps that remain in order to implement it. The overall return on investment, while dependent on the effort expended and project time frame of the buyer, is highly attractive and validates the asking price under all scenarios.