Beachside Apartments
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| The island of Koh Samui is located off the Southeast coast of Thailand. Twenty-five kilometers long and twenty-one kilometers wide, Koh Samui is the second largest island in Thailand. Once a quiet little collection of fishing villages, this island is becoming known to the international jet set and is growing in population and sophistication.. Koh Samui is an island of friendly people and a beautiful environment, and it offers many attractions and activities. Spend a day discovering waterfalls, exploring temples, or visiting a tiger zoo, a butterfly garden, and snake and pearl farms. | |||
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For more action, try diving or snorkeling within its turquoise waters, or sail or kayak upon them. Hike in the mountains, relax at a spa, take a cooking lesson or attend a Thai Boxing Exhibition. Of course, shopping for handicrafts, silk, furniture and other exotic souvenirs is a popular pastime. Known for its natural beauty, and described as an island covered in coconut trees and bougainvilleas, Koh Samui has a main “ring” road which links its towns, beaches and attractions. On the north coast, about ten minutes from the airport, is the crescent shaped, coconut-fringed, white sand beach of Bo Phut. Quieter than the near-by main town of Chaweng, Bo Phut still offers varied and sophisticated dining, numerous water activities, and appealing shops. Bo Phut is close to medical services, | |||
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Beachside Apartments is a new four-story, 8-unit apartment building located directly on the beach at Bo Phut Beach next to the pier where boats to the other islands depart. Presently, it is run as an economy boutique hotel, [approximately $2,000./mo per room] but could serve as a retirement home [medical services are readily available], or a private club....Each unit has an ocean view, balcony, and is approximately 500 sq ft. All offer modern furnishings, an efficiency kitchen, original art, big screen TV and hi speed internet. | |||
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Beachside Apartments is offered at $830,000 $USD, a 15% cap rate based on the current proforma. There are 24 years remaining on a renewable 30-year ground lease. The land is available for sale to a Thai citizen, someone married to a Thai citizen, or a corporation with a majority of Thai stockholders. The present owner does not meet any of these requirements; hence, he holds leasehold title and can sell it that way. | |||
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