Hotel in Pattaya, Thailand, 800 m²

A unique investment opportunity: an apartment building near the beach with 100% occupancy - ideal for conversion into a hotel!

Sale price: 69.9 million baht (reasonable offers are possible)! Reason for sale: The owner is retiring! But I am ready to help a new buyer at the transition stage.
Short description:
This residence is successfully rented out to long-term high-class expats and is not currently tourist-oriented.

2023: Gross revenue: 4,950,000 baht
Expected revenue for 2024: similar to 2023

There is significant potential to increase income — rental rates can be increased by 10-20%. Nevertheless, the current owner is satisfied with stable long-term tenants, and the facility retains 100% occupancy. This family business consistently generates income with permanent tenants and revenue. The company can be transferred tax-free, which makes the transition for the new owner easy and hassle-free.

The building is located in a prestigious area in the lower part of Pratamnak soi 5, next to the Princess Residence, Muscle Factory fitness club, beaches.
There are two buildings on the site:

Building A: 3 penthouses, each 200 sq.m., 2 bedrooms, 3 bathrooms, European kitchens with high-end appliances, new luxury furniture, laundry rooms with washing machines and dryers.
Building B: 1 penthouse (200 sq.m., similar in style to building A), 4 apartments of 100 sq.m. (1 bedroom, 2 bathrooms), 1 apartment by the pool (70 sq.m., 1 bedroom), and 1 garden studio (50 sq.m.).
Both buildings are equipped with elevators.
The plot area is just over 800 sq.m. owned. Communal swimming pool
for the barbecue. Parking for motorcycles and 7 places for cars. The facility is adapted for people with disabilities, which makes it easy to convert it into a 26-room boutique hotel or a nursing home/medical center. When switching to a short-term lease, income can increase by 80%. A business can also get a permit for a hotel, with projected revenue of 7.6 million baht from a 26-room boutique hotel. Investment potential:
This facility is ideal for creating a boutique hotel, as well as for organizing a nursing home or a medical center with high profitability.

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