Income generating property for sale in Rio Mar Panama
Check out this fabulous income generating property in Rio Mar, only 1 hour from Panama City on the Pacific Coast. This 5,000 m2 property is perfect for multifamily use, as an investment property or to create your very own B&B.
Perched up on a hill in Rio Mar, this estate not only offers ocean views and a prime location, but has the beginnings of a mini resort in the works. Three homes in total occupy this large property, two of which are two story 100m2 homes which provide 2 bedrooms and 2 bathrooms each. The homes are built identically, however plenty of space separates them and the two empty lots within the property offer more than sufficient space to build 2 more medium to large sized homes.
The homes that are currently on the property were built in 2008 and still enjoy a few years of tax exemption. The second floor of each home is comprised of the Master bedroom, an en suite bathroom with walk in shower and a balcony that offers ocean views. The first floor of each home offers a living and dining room area, open kitchen with laundry facility and separate entrance adjacent, the guest bedroom with full bathroom complete with a bath tub and a large covered front porch with plenty of space to hang your hammock. Bedrooms offer air conditioning, there are fans throughout as well as built in hard wood closets in both bedrooms and hallway.
The large landscaped property is secured with a safety wall surrounding it and complete with a custom metal gate. The caretaker’s house which is set back in one corner of the property is an unfurnished 50m2 house with one bedroom and one bathroom and a new under roof private terrace area. The resort size pool and Jacuzzi with swim up pool bar bump up to an oversized thatched roof gazebo complete with wet bar and lots of hammock space. An outside bathroom and shower are located in the pool and gazebo area, making it convenient to entertain plenty of guests.
Additional features include a reserve water tank and pump, parking area for 4 to 6 cars, and a small garage/storage area. The house is close to the beach, within a 3 minute walking distance to the Rio Mar beach which is a great for walking, swimming and of course, famous or its surf break.
The listing price of $999,999 includes furnishings and appliances in the 2 homes. There are no monthly dues associated with this property. Rio Mar is located 8 minutes from Coronado, making it an ideal location for living, tourism or investment. It is located only a few minutes away from several restaurants, a local hospital and school, gas stations and grocery shopping.
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