Income Producing Property in El Cangrejo Panama

Income Producing Property in El Cangrejo Panama

Income Producing Property in El Cangrejo Panama

For Sale, Price Reduced

$2,680,000

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Bedrooms

35

Bathrooms

20

Area

16210 Sq Ft 1506 m2

Year Built

1990

Lot Size

0.103 acres 418 m2
  • Annachiara El Cangrejo Building for sale
  • Annachiara El Cangrejo Building for sale-2
  • El Cangrejo Panama building for sale (7)
  • El Cangrejo Panama Building for sale (2)
  • El Cangrejo Panama Building for sale (3)
  • El-Cangrejo-Panama-building-for-sale-1-700x680
  • El Cangrejo Panama Building for sale (4)
  • El Cangrejo Panama Building for sale (5)
  • El Cangrejo Panama Building for sale (1)

Description

This great income producing building for sale in El Cangrejo consists of 20 one- and two-bedroom apartments. It also includes two street-front retail establishments, all of which are fully occupied and recently remodeled.

The current cash flow of the El Cangrejo building for sale is $16,800 with several opportunities to increase that income stream over time.

The operation costs of the property are streamlined and all facilities are maintained to a high standard. Prospective buyers are welcome to view the building plans, financials, and a tenant breakdown.

This is a path of progress play because it is a well built, tax-optimized, and fully occupied property. As a result, this will be a positive cash flow generator from day one.

About the building for sale

The building, named Annachiara, is a 22 unit, 5 story building. And it is located just off of one of the most commercially active streets in Panama: Via Argentina.  After 2 years and nearly 20 million dollars of neighborhood beautification, this place is ideal for residents. Here you’ll find a new park, new sidewalks and landscaping. As a result, businesses are quickly starting to return to what was once one of Panama’s most vibrant tourist districts.

About El Cangrejo

Traditionally a residential neighborhood for middle-class Panamanians, El Cangrejo has become a hub for young professionals and bohemians alike. There are plenty of shops, restaurants, bars, and cafés clustered along the neighborhood’s main thoroughfare, Via Argentina.

Nearby, residents take advantage of Andres Bello Park. There you can jog, relax in the shade, or spend time outdoors with friends and family.

Unlike many centrally located neighborhoods in the capital, El Cangrejo is more dominated by one and two-story houses than it is by newer skyscrapers. It’s also one of the most walkable neighborhoods in Panama City lending it a charming and friendly vibe.

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