Fixer Upper - Apartments

Foreclosure by Bank

Built in 2016, this single storey property is located towards the top of Joe's Hill, walking distance from the Ridge Road/Rudy's. Situated below the road via a paved driveway, with scope to add a 2nd and possibly 3rd storey (subject to advice from a structural engineer).  The existing property comprises 2 apartments, each with 2 bedrooms, 1 bathroom and an open plan living room/kitchen. Each apartment is approximately 840 sq ft, with a shared a balcony to the front and a covered walkway to the rear.  beneath the property is a reinforced concrete cistern which holds 20,000 gallons.

To the rear of the property (on the road side) there is a reinforced concrete retaining wall.  The property is connected to BVI Electricity and Town Water supply.  Gas lines run to the kitchens and there is a septic tank.

The property is in fair condition, but does need some TLC both internally and externally.  The property is sold unfurnished and does not include any appliances or furniture.

Both units are currently rented for $850 per month. Total annual income $20,400.