Description
Turnkey Investment Opportunity | 12-Unit Apartment Building | 100% Occupied | 8% Cap Rate Located four blocks from the Waterfront in historic Charlotte Amalie and walking distance to Main Street and its many shops and restaurants. Major Tax Advantages for Investors - This property sits in both a Federal Opportunity Zone (with potential for capital gains tax deferrals) and a USVI Enterprise Zone, offering qualifying investors up to a 90% reduction in income tax and a 100% property tax exemption. Foreign investors may also benefit from no income or property tax obligations. Please confirm all tax benefits with your tax advisor. The original portion of the building is believed to date to the 1700s, featuring masonry rock walls up to 18 inches thick. Historic Garden Street, once home to the wealthy elite, is now home to restaurants, short-term rentals, boutique hotels, and the top-rated All Saints Cathedral School. Strong local housing demand keeps units consistently occupied, and with short-term rental demand surging across St. Thomas, this property also presents a compelling conversion opportunity. Sale includes the established LLC (Garden Street Lofts) with existing banking infrastructure already in place for rent collection. Reach out for more detailed information.
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14BEDS
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0.06ACRES
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12BATHS
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01/2 BATHS
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4,033SQFT
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$322$/SQFT
School Ratings & Info
Description
Turnkey Investment Opportunity | 12-Unit Apartment Building | 100% Occupied | 8% Cap Rate Located four blocks from the Waterfront in historic Charlotte Amalie and walking distance to Main Street and its many shops and restaurants. Major Tax Advantages for Investors - This property sits in both a Federal Opportunity Zone (with potential for capital gains tax deferrals) and a USVI Enterprise Zone, offering qualifying investors up to a 90% reduction in income tax and a 100% property tax exemption. Foreign investors may also benefit from no income or property tax obligations. Please confirm all tax benefits with your tax advisor. The original portion of the building is believed to date to the 1700s, featuring masonry rock walls up to 18 inches thick. Historic Garden Street, once home to the wealthy elite, is now home to restaurants, short-term rentals, boutique hotels, and the top-rated All Saints Cathedral School. Strong local housing demand keeps units consistently occupied, and with short-term rental demand surging across St. Thomas, this property also presents a compelling conversion opportunity. Sale includes the established LLC (Garden Street Lofts) with existing banking infrastructure already in place for rent collection. Reach out for more detailed information.
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