16B Commandant Gade QU, St. Thomas,
New Listing
Description
Supplements: Fully rented 12, unit apartment building with 8% cap rate. Four blocks from Waterfront Street in historic Charlotte Amalie, St Thomas US Virgin Islands. Potentially no income tax and no property tax for foreign investors. Also located in an opportunity zone and in a USVI EDC zone with up to 90% reductions in income tax, plus 100% property tax for all investors. Be sure to confirm with your tax advisor. Included is an LLC, DBA, Garden Street Lofts, with a bank account where tenants deposit rent. Original portion of the building is believed to have been built in the 1700s, and has has masonry rock walls up to 18 inches thick. Historic Garden Street, once home to wealthy elite, is now home to restaurants, short-term rentals, boutique hotels, and top the rated All Saints Cathedral School. High demand for local housing keeps these apts rented easily. Demand for short term rentals has also recently skyrocketed. Could easily be converted for short-term rentals. Feel free to inquire for for more detailed information
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