Property Description

Presenting a unique opportunity to acquire Bella Villaggio, a sixteen (16) unit luxury townhome complex located in the heart of Tequesta, Florida. Built in 2017, these townhomes were meticulously constructed with attention to detail and high end finishes (these units were originally built to be sold to individual buyers). Bella Villaggio is the most luxurious townhome community you can acquire in its entirety anywhere in Palm Beach County. The oversized units average over 2,000 air-conditioned square feet. In addition, every unit includes a two-car garage, designated driveway, and each unit has its own private rooftop deck. The property is available below replacement cost. Between land, hard and soft costs, high-end new townhome development is well over $500 per square foot and Bella Villaggio is being offered at an attractive price of less than $435 per square foot. The complex consist of three separate buildings, A, B, and C. Buildings A and B include five (5) townhomes each for a total of ten and they each feature the larger floor plans, which are all 4 BD, 3BA townhomes with the corner units boasting 2,198 Living SF and the interior units with 2,210 Living SF. Building C ion the north side of the complex consists of six (6) 3BD, 2.5BA townhomes with the corner units featuring 1,733 Living SF and the interior units with 1,696 Living SF. The entire complex has 32,302 Living SF between all sixteen townhomes and 70+ total parking spaces, which makes this the ideal rental community capable of comfortably housing numerous types of tenants. The seller owns 100% of the complex so this is not considered a fractured condo sale. The townhomes are separately deeded (sixteen different folio numbers) which provides flexibility to rent the units out short term, long term, and/or sell each townhome at any given time. There are high-end finishes throughout the townhomes that are representative of a high-end, new construction townhome community being marketed to end users. Every unit features fully plumbed natural gas, 10-foot high ceilings, stainless steel JennAir appliances, quartz countertops with porcelain backsplashes, metal roofs, complete hurricane impact windows and doors, gas powered tankless water heaters, two car garages with private driveways, and rooftop decks overlooking the gorgeous scenery. Several scenarios are available to buyers including, but not limited to, the following; 1) Traditional rentals-These uniquely positioned townhomes attract various tenant types due to the highly desired location and the opportunity to reside in a high-end product at a reasonable rental rate. 2) Short Term Rentals (Airbnb)-The property is zoned R-2 which allows for short-term rentals aka vacation rentals. Property owners must obtain a vacation rental permit from the Village of Tequesta Building Department prior to the commencement of any vacation rentals. 3) Individual Unit Sales-All sixteen townhomes are separately deeded and each unit has an individual parcel control number, allowing for individual townhome sales to end users, without having to condominiumize the complex prior to marketing these units to end users and buyers. Do not miss your opportunity to own one of the hidden gems in Palm Beach County at a price that sits well below current replacement cost.

Property Features

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