Apartment Block In Mahasarakam

[SunbeltAsiaAdvisor]

UPDATE! The asking price has been reduced from 24,500,000 baht to 22,000,000 baht.

Located in the north-eastern province of Mahasarakham, this three year old Apartment Block consists of four storeys containing 56 rooms. The owner is now looking to sell the freehold property as he seeks to concentrate his efforts on an unrelated business venture. The building was constructed 3 years ago at a cost of 18,000,000 Baht. Mahasarakham University is less than a kilometre away, making the property popular with students.

A mini-mart sits on the ground floor and CCTV cameras are present throughout the building, along with an internet connection for every room. Room rates are affordable and this means the building is always full. There are parking facilities for cars and motorbikes, washing machines and an underground water tank supply. In the last financial year receipts totalling roughly 2,160,000 baht produced net profits of approximately 1,800,000 baht as overheads are minimal. Three employees are in place on salaries that total 15,000 baht per month, and then incidental expenses have to be taken into account. The property sits in a booming part of the city, close to a major supermarket outlet.

New asking price: 22,000,000 baht.

BKK13842

[sunbelt][/sunbelt]