If you are looking for strong returns in the path of progress, this is it!

This multifamily building for sale in Bella Vista is a few blocks from the municipal center. The property and area boast many government offices and $20 million dollars of recent urban renovations. Including two new parks and underground parking.

The zone is RM3C2, the highest density mixed-use zoning available in Panama. Plus the building is currently at 90% occupancy.

There is potential to do some renovations and repurpose some of the common areas into income generators. The Metro Line 2A expansion in the area will also see double the current connectivity. Meaning this area is set to become Panama’s next downtown hotspot.

This property is 2 blocks from the National Hospital and Metro Stop. It’s also 4 blocks from the ocean and right in the heart of an area that is gentrifying with new businesses. In addition, there are several schools and universities in the area.

The current rent roll is $22,060 across the 43 identical one-bedroom apartments. They are currently rented on an average of $570 per month, fully-furnished and serviced. In addition, the elevator is brand new and under warranty. The property has a ground-floor retail space that can divide or repurpose. Plus, the rooftop could support additional construction should the new owner decide.

This property is under a corporation that allows for an easy transfer and sale.

About Bella Vista

Bella Vista, located to the back of Avenida Balboa and Cinta Costera has seen significant investment in recent years.

This is due to its central location, making it easy for transport across the city and its vast amenities. For example, 24-hour supermarkets, a host of restaurants and bars, nightclubs, etc.

Bella Vista was once known for its old Spanish colonial-style homes, dating back to the 1930s. Yet, since the area has had a lot of growth, many beautiful and modern apartments now call this area home. Many of these properties in the area boast incredible ocean views, skyline, and Casco Viejo.