BEACHFRONT on Magens Bay- LARGE HOME w Rental Income

Property Type: 
Residential
Island: 
St. Thomas
Offered at: 
$1 990 000
Property Status: 
Sold
Bedrooms: 
6
Bathrooms: 
5
Floors: 
2
Square feet: 
4150
Lot size: 
0.56

Beachfront Home for Sale on Magens Bay

BEACHFRONT parcel directly on Magens Bay, offering easy and private access to the crystal clear waters within the most famous bay of St. Thomas. This is truly a SPECTACULAR location, and incredibly unique. Very few homes on the island can claim to have such great access to sand and water like EAU CLAIRE.

Multiple Apartments for Income

The home is a total of six bedrooms and five bathrooms, but can be divided into multiple apartments. Ideally, the "right" side of the home can serve as a three bedroom, three bathroom main house. This would leave a one bedroom, one bathroom apartment, as well as a two bedroom, one bathroom apartment- both on the "left" side of the home. This allows the option of leasing the apartments separately, either as a long term rental, or more desirably as vacation rentals.

Desirable Estate Peterborg

Access to the home is via Peterborg Peninsula, which hosts a large amount of high end vacation rentals. The house itself is gated and fenced, for added security and privacy.

Perfect as a Vacation Rental Home

Current owners use the home personally, while also renting various apartments as vacation rental properties. This home can provide excellent income if you would like to use it as a vacation rental, then personally set aside your own time to stay in the home. But it is equally available as one large private home.

Lots of Improvements

I have included a list of various improvements / repairs to the home, all done by the current owners:

Exterior repairs:

1. Installation of an electrical gate and fence. There was nothing before.
2. Replanted the driveway and redid much of the landscape. It was a real jungle before.
3. Added a new 17.5K generator
4. Put down clay tile on all cement walkways and stairs.
5. Repaired all outside electrical wires and lighting.
6. Added handhold railings down all the stairs.
7. Plumbed the septic system.
8. Added two exterior staircases. One from the deck of the 2bed/1bath. One from the 2bed/2bath deck going down to the lower studio deck.
9. Rebuilt all the stairs going down to the water with lighting
10. Added the deck by the water, with lighting and shower.
11. Strengthened and repaired all of the decks- new planking on three decks
12. Repaint the entire house and roof
13. Change all the entrance doors and add screenings to 3 of them.
14. Add wooden blues shutters and blue shutters doors to all windows and some doors.
15. fix the gutters.

Repairs and renovations to the structures and units.

1. Changed the electrical wiring to new wiring.
2. Added the entire laundry room and restroom below right side unit
3. remodel some layouts in the 2bed/2bath condo and the 1bed/1bath condo: Remove wall between kitchen and living area.
3. 4 complete new kitchen, with all new appliances cabinets and granite countertops
4. Redid six bathrooms with built-in Cabinetry (custom handmade on the site) and new fixtures.
5. Replaced six air-conditioning units and added units in living areas of all units.
6. Replaced all hot water heaters (five).
7. Fixed drainage for lower apartment.
8. Place a new blue roof over the entrance of the 2bed/1bath.
9. Built kitchen islands in 2bed.2bath and 1bed/1bath and 2bed/1bath.
10. Replaced all of the sliding glass doors on the waterside of the house.
11. Add screens to most of the windows
12. Add fans in all the rooms including bathrooms
13. Replaced all indoors doors and entrance doors.
14. Sealed the roof to eliminate leaks.
15. Placed all new electric shutters on waterside of house. Added new shutters on studio apartment.
16. Reinforced all of the decks and repaired all rotting wood.
17. Place shades to all the windows and sliding doors.
19. Designed and built custom wood wall shelves and entertainment center in studio.
18. Replaced all of the interior lighting.
19. Replaced aging plumbing inside
20. Built kitchen eating areas – new granite countertops.
21. installed ceiling lighting in the studio over the bed.
22. Add a kitchen area in the studio.
23. Added two dishes for getting dish network
24. Installed Dish Network.
25. Emptied cistern and sealed on inside.
26. Redecorated with new furniture, accessories, original paintings all indoors and decks from top to bottom including all bathroom towels, beach towels, linen, blankets, etc…, kitchen equipment, etc...
27. Termites indoor invasion destruction and treatment guarantee 5 years + renewed recently.

Approximate total cost of renovations & improvements: $680,000