Apartment And Business/Apt Buildings - Excellent Cashflow - Asia Property For Sale Or Rent at BestRealEstatePlanet.com

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Property For Sale Or Rent: Apartment And Business/Apt Buildings - Excellent Cashflow

Thailand, Bangkok

99/14 Ngam Wong Wan Road
Bangkok
Thailand

Property for sale: $400,000 USD

Rentals And Businesses For Sale in Bangkok, Thailand

Two buildings separated by a narrow walkway. They can be purchased separately or together. The larger one is for sale at 10 million baht; the smaller is for sale at 6 million baht. The current rate is approximately 40 baht to the US dollar.

One building is six stories and has 38 efficiency apartments, which are 100% rented at all times. Approx. income $24,000 US per year.

Two buildings separated by a narrow walkway. They can be purchased separately or together. The larger one is for sale at 10 million baht; the smaller is for sale at 6 million baht. The current rate is approximately 40 baht to the US dollar.

One building is six stories and has 38 efficiency apartments, which are 100% rented at all times. Approx. income $24,000 US per year. There is also a small beauty salon, with a rent of about $1000 per year.

The other building is three stories and consists of six apartments, two snooker rooms, two music studios, a computer area, and an eating area. The apartment rents total $3000 US per year. The snooker rooms, music studios, computer area, and eating area together generate about $36,000 per year.

The current total gross is thus about $64,000 per year. The tenants pay their own utilities. The overhead is low, about $5000 per year, for a net of about $59,000 per year.

The net was about $85,000 per year for about half of the previous decade. However, the music studios have not been operating at previous capacity, due to the death of the family member who ran that part of the business.

The greatest asset of the buildings are their location. They are 15 minutes from Bangkok's international airport and seven blocks from one of the best malls. Also, they are two blocks -- down a quiet sidestreet -- from the new all-computer mall that is scheduled to open in January or early February. The only other all-computer mall in Bangkok is a HUGE success. Property values where the buildings are located are excellent and are certain to rise.

One thing you need to know about Thailand, is that property values are rising rapidly but, due to cheap labor, rents have not keep pace. American value-to-rental income ratios are not applicable.

The last time we checked, foreigners could own up to 49% of a business property in Thailand, but you would want to get legal advice regarding that.

The properties are owned by my mother-in-law, who is not in good health and wishes to sell them and retire. My wife and I live in Alaska and so we cannot manage the properties. She would prefer a cash-out but would carry the paper if, for instance, someone purchased the larger building a
and wished her to carry the paper on the other one, at a typical interest rate that a bank might charge (the current rate is about 3.75 to 5.25 percent).

Persons wishing more information on the property can contact me or my wife, Noi.

Property Summary