Reef House- 10 2 -bed Apartment Complex, South Church Street Gt — Property Cayman | Real Estate Experts in the Cayman Islands
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Reef House- 10 2 -bed Apartment Complex, South Church Street Gt

Condo with a Garden View at George Town


About this property

Introducing an exceptional investment opportunity to own in George Town, South Church Street! This 10-unit 2 bedroom, stratified, older, yet charming complex is an ideal price conscious property with tremendous potential! Situated minutes away from Smith Cove and downtown George Town with an elevation of 8ft above sea level, this property presents a canvas ready for transformation, making it an attractive prospect for seasoned investors! The complex has a unique character that can be revitalized to create a welcoming and inviting atmosphere for future owners. With each unit offering ample living space (1,052 or 1,102 sq. ft.), this property holds immense potential for customization and renovation, enabling you to craft comfortable living spaces that cater to modern needs and preferences. The property grounds provide ample room for creative landscaping, communal area, or additional amenities, further enhancing the appeal of this investment. Investors with a keen eye for value and growth will appreciate the promising returns this property presents. This property is currently generating as is, a net net return of 6%! Capitalizing on the growing demand for affordable housing, renovating and repositioning this property can yield attractive rental income and long-term appreciation potential. It is also an ideal property for a company with a large labour pool, looking to provide affordable housing for their employees. There is a bonus storage area located between the two buildings of approximately 750 sq. feet that can be used as needed for the future owner. All units are currently tenanted and furnished, with 6 of the 10 apartments having a 2 Bed 2 Bath layout, and the 4 remaining units having a 2 Bed 1 Bath layout. The Ground-Floor units are block construction and the Second-Floor units are timber frame construction. All units currently rent for $1850-$2100 per month. The possibilities are endless! Don't miss out on this exciting prospect; seize the chance to unleash the hidden potential within Reef House! Contact us for more information and to schedule a tour of this property! Priced with a genuine interest in selling. Broker Owned

Property Details

Bedrooms: 20Bathrooms: 16
Sqft: 10770View: Garden View
Acreage: 0.5775

Mortgage Estimate


George Town is the capital city of Cayman and at the heart of the financial services industry. Not just a warm climate but a warm welcome; George Town is home to the island’s port, with a waterfront filled with bustling tourists visiting the duty-free shops. At the figurative centre of Cayman, sits the literal centre of George Town’s residential population — a favourite among locals for its close proximity to town, grocery shopping, local schools, Owen Roberts Airport, snorkelling, diving and classic island restaurants.

Heading East from George Town, you will find the coveted South Sound. The second most sought after area on Grand Cayman to live after Seven Mile Beach (but second to none in lifestyle), this area is more relaxed than Seven Mile with a lovely mix of condos and mid to large family homes. Hugging the waterline, you’ll find luxurious beachfront villas; the perfect location for your towel to meet the sand for a few hours a day.

A home of capital in the capital.

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