This real estate investment in Panama can be used as residence or as a commercial property, due to the mixed-use zoning classification of the apartment-office building of PH Parque Urracá.
Currently, this sixth floor, six-bedroom, 3-bathroom, remodeled piece of residential/commercial real estate in Panama is operated as a monthly, room rental to excellent tenants. It has been perfectly redistributed to provide six separate, secure living spaces. Each fully-equipped room is rented out individually for an average of $450, including utilities, cable TV and internet, providing a gross monthly income of $2,700, on average.
If you desire, the property can be converted back to a single-family dwelling, providing a spacious 280 m2/3,014 ft2 of living space. Or mix it up and subdivide the space; redesign it to be part residence and part offices that can be used to operate a business. Either way, any family or professional will love the proximity to the Park!
Because of its excellent location on Avenida Balboa, it makes for a perfect office space. Several tenants in the building use these Panama condos as commercial real estate. The large space can also be converted into a large office and leased out to a single company. Or keep the already established distribution and lease out the offices individually to accountants, lawyers or other professionals.
The apartment is strategically situated for business and family at the junction of Federico Boyd and the Cinta Costera. Being right across from the Cinta Costera means you, your tenants or your employees have quick and free access to both exercise and parking! There is plenty of street parking right around Parque Urracá and in the Cinta Costera parking lots.
The beautiful, lush open gardens in Parque Urracá provide plenty of space to relax, people watch or picnic. Whether you like to run, bike, rollerblade or just stroll, the Cinta Costera is a perfect urban greenbelt with a wide pedestrian/non-motorized vehicle path that runs the length of Ave Balboa. It is also fully equipped with several basketball, tennis and soccer courts.
The neighborhood is well-known for its fine dining and family restaurants, cafes, sports bars, clubs, etc., all within walking distance throughout Bella Vista and on Calle Uruguay. Up the street, Riba Smith Supermarket provides a great selection of the finest imported foods and products from the US, including organic and natural brands.
Nearby MultiCentro and Multi Plaza Malls also host multiplex movie theaters, tons of fine shops, a kosher supermarket and more. You’ll also be within minutes of 2 great hospitals, pharmacies, hypermarkets and more!
If you want to get out of the City, just jump on Avenida Balboa and escape to the spectacular Pacific beaches only an hour on the Interamerican Highway or take off in the other direction on the Corredor Sur toward Tocumen Airport only 25 minutes away.