Description
For sale is 3-storey house in the center of Budva, in 500m from the sea. The total area is 290 m2 + garage (32 m2) + dining area \ cafe (50 m2).
On the 1st floor (107 m2) there are a utility room, a restroom, a wine cellar, a garage.
On the 2nd floor (86 m2) there are 2 bedrooms, a bathroom, a kitchen, a dining room, a living room, an access to the terrace.
On the third floor (86 m2) there are 3 bedrooms each with separate toilet, shower room, balcony. The yard of the house is 166 m2 with a garden & BBQ area. The house has centralized city communications: electricity, water, sewerage, there is a capacious water tank.
There is an opportunity to use the house as a hostel, and in the future to complete 2 more floors. The price is reduced to 300 000EUR.
OFFER FOR PURCHASE OF THE OBJECT UNDER THE HOSTEL During the reconstruction it is possible to create a HOSTEL on (from) 50 places The volume of additional investments for the reconstruction of 50-70 thousand euros
Economy: In the high season, the occupancy rate is 95%
The cost of one place from 18 euros
Duration of the season 120 days
Also full load is possible for a New Year (10-14 days), May holidays (10 days), as well as 8th of March
Other time (220 days) occupancy rate 50% at a cost of 8 euros
Estimated total annual income is 160 000 euros
The cost price is 4,5 euros (taxes and utilities, etc., staff salaries) per day
Expenses for the year is 55 000 euros
Annual income is 100 000 euros