James Bovell
RE/MAX CAYMAN ISLANDSDescription
MLS ID: 421252 - A unique opportunity to acquire a portfolio of five canal-front multifamily properties comprising of seven residential buildings, 28 apartments, approximately 700 feet of water frontage, and two swimming pools in the highly sought-after Snug Harbour neighborhood along the prestigious Seven Mile Corridor.
This well-maintained investment portfolio benefits from consistent occupancy and strong tenant demand, driven by its prime central location and attractive waterfront setting. All properties are situated along Palm Heights Drive and feature private canal frontage with docks, providing a highly desirable lifestyle amenity for residents.
The portfolio consists of 28 spacious two-bedroom, two-bathroom apartments, all currently tenant-occupied, offering immediate income generation. Each unit includes internal laundry facilities, ample on-site parking, external storage, and accommodates both families and pets, broadening tenant appeal and supporting long-term occupancy.
Building styles and ages vary throughout the portfolio, creating a diverse asset mix, while all properties have been carefully maintained. Two of the properties also feature swimming pools set within attractively landscaped grounds, further enhancing resident satisfaction and rental desirability.
Positioned in the heart of the Seven Mile Corridor, the properties are within minutes of Camana Bay, Seven Mile Beach, major supermarkets, schools, restaurants, and shopping amenities. This exceptional location continues to benefit from strong residential demand, limited supply, and long-term capital appreciation potential.
Professionally managed and fully occupied, this portfolio presents a hands-off investment opportunity with established rental income, strong occupancy history, and significant future upside in one of Grand Cayman's most desirable residential markets.
In addition to its strong income profile, the portfolio offers multiple value-creation strategies. The current owner has already initiated the stratification process, creating the potential for future individual unit sales and an estimated 20% - 25% increase in aggregate portfolio value based on current market conditions. Investors may also explore redevelopment opportunities to further unlock value from these highly desirable waterfront holdings.
Detailed financial information, building specifications, and viewing arrangements are available upon request.
listing details
- Listing ID: 00003002545
- Property type: House/Villa
- Contract type: For Sale
- Price: $ 17,995,000.00
- Bedrooms: 56
- Stories/Floor: 2
- Garage capacity: 1
- Year built: 1985
- Construction size: 0.00 Sq. Ft. - 0.00 Sq Mt.
- Lot size: 42,142.00 Sq. Ft. - 3,915.12 Sq Mt.