International

$4,500,000
Beds: 32
Baths: 32
Sq Ft: 23,088

This is truly a unique opportunity to own not only a beachfront hotel in the popular tourist location of Rio San Juan but also an almost completed villa/boutique hotel on 3.4 acres of ocean front land that could be hired out to wealthy renters wanting a romantic location to stay.

This boutique hotel could become very popular for weddings with guests staying in the main hotel and close family in the boutique villa with over 3 acres of oceanfront land to explore. There is a demand for such properties in this country especially from the wealthy residents of Santo Domingo and Santiago that come here in large numbers at weekends because of the choice of activities. These include exploring the national park that the villa is located in with all the necessary permits that are difficult to obtain should anyone want to build a villa on this desirable oceanfront location. Many visitors go on boat trips from the Gri Gri lake opposite the hotel, or snorkeling and diving in underwater caves. Some go golfing at the international renowned Playa Grande course while their families have fun on Playa Grande beach or the two beaches alongside the hotel.

If your dream is to own a hotel on a beach where your guests can sit on the terrace overlooking the ocean and watching the amazing Caribbean sunsets, then this is the hotel for you. This is a very romantic location especially at night enjoying a delicious meal under a canopy of stars. The hotel is the perfect size for getting to know all your guests and helping them plan their next excursion. Many may just stay around the hotel and enjoy the very relaxed atmosphere that comes from being on the ocean with two beaches either side of the hotel where they can swim and sun bathe or join the locals in a game of volley ball each day.

Here are selected comments from guests:

The hotel is without doubt the best value hotel I have stayed at. For $33.00 I had a large clean room with a beautiful view of the beaches and ocean on both sides. There are large balconies that run around the outside on each floor, with comfortable chairs to relax and enjoy the Dominican weather. I highly recommend this hotel, you will not find one as good at this price. Stayed March 2016, traveled solo

We were looking for a hotel in the area. Not so easy to find. Then with some help from a moto concho we got there. The hotel looks like a big passenger ship.
We got a room with fantastic seaview, sleeping with the sound of the waves.

There is an opportunity to increase the revenue by converting the villa to an exclusive event home and up grading the rooms in the hotel to complement the villa. The owner is open to offers on this stunning looking hotel.

For further information and pictures about this property and real estate in the Dominican Republic in general, please call us so we can get you to our specialist!

Community features: Restaurant

Distance to airport (km): 70

Distance to airport (miles): 44

Distance to beach (km): 0

Distance to beach (miles): 0

Distance to town (km): 0

Distance to town (miles): 0

Features: Generator, Pets allowed

Floors: 3

Lattitude: 19.646578762706852

Longitude: -70.08085370063782

View: Beach front

Buying process

Purchasing property in the Dominican Republic is surprisingly easy and with our we will make your purchase experience even easier.

Below are the simple purchasing procedure points:

Once we have helped you find the property of your dreams, a preliminary Sale /Purchase Agreement with the owner of the property should be signed, which contains the basic terms and conditions applicable for the sale/purchase of the property. This should be accompanied by a 10% deposit which will be held in a lawyers account and released at the time of closing. The Seller is committed to sell the property to you after signing this agreement.

Next step:

The Lawyer/Notary will typically require the following documentation to process the sale/purchase agreements:

Full name and particulars of the parties. If the seller is married, the spouse must also sign. Two copies of identification are required of each person, (Passport, Dominican I.D. card, driver’s license).
Legal description of the property to be purchased.
Purchase price and payment terms.
Default clause.
Date of delivery of the property.
Due diligence required or done.
Obligation by seller of signing the Deed of Sale upon receipt of final payment.

Notary process may take maximum 6 -8 weeks, the charges vary depending on complexity of the transaction. You will be contacted by the notary or your Coldwell Banker broker for an appointment to sign the deed and make final payments prior to the appointment date.
It is recommended that your financing is in place by the time that the official Deeds of Sale/Purchase and Transfer of Property are signed at the notary office.

Closing Costs

When buying a home, the following cost will be incurred by the Buyer.
The closing costs are calculated as follows:

Transfer tax and stamp duty. Taxes are paid based on the market value of the property as determined by the tax authorities, not on the price of purchase stated in the deed of sale.
Title transfer
Notary fees

Property Taxes

Properties held in the name of an individual are subject to an annual property tax (“IPI”) of 1% of government-appraised value in excess of RD$6,500,000 pesos except for empty lots or farms outside city limits and properties whose owner is 65 years old or older, who has registered it in his or her name for more than 15 years and has no other property.

If the property is held by a corporation, no property tax is due. Instead, the corporation must pay a 1% tax on corporate assets.
However, any income tax paid by the corporation will constitute a credit toward the tax on assets, so that if corporate income taxes paid are equal to or higher than the taxes on assets due, the corporation will have no obligation to pay taxes on its assets.

Courtesy of Amber Coast Realty