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128-Room Dormitory/Apartment Complex for Sale in Chiang Mai | Turnkey Business Opportunity

For Sale
/ Month
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Property Description

Highly rated and fully booked this 128 room dormitory/apartment complex is near Mae Jo University in Nong Han, San Sai.? Designed by expert architects the building offers both functionality and the aesthetic style of a resort hotel.A few highlights:

  • Common areas to sit and relax
  • Caf? catering to the local residents and other students in the area.
  • The atmosphere is peaceful with tree arrangements and greenery offering an oasis of shade and tranquility
  • So popular there is a booking que!

The complex consists of 3 main building and two houses for a total of 128 rooms for rent (not including 1 house):

  1. Building 1 - 4 floors - 58 rooms. - Larger than normal dormitory rooms, designed more like condo rooms.? Sunrise views of Doi Suthep.? Interested residents usually have to get on a booking que for this building as the price for the atmosphere is unbeatable in the area.
  2. Building 2 - 4 floors - 36 rooms (27.3 Sq.m) + 1 suite (70) + 1 caf? and koi pond - Coin operated washing machines and drinking water dispensers in a common area.
  3. Building 3 - 2 floors - 28 rooms
  4. Single Story building - 4 rooms - For employees or students to rent.
  5. House - 3 bedrooms, 3 bathrooms, 1 living room, 1 office

There is approximately 88 M. THB in asset value alone (land and building costs). After over 20 years developing this business the owner wants to retire? This a turn key business making approx 450k Baht in profit every month after expenses (0ver 500k in revenue).This is a great value for money as the asking price is below asset costs and the owner is not asking for any multiple of yearly revenue (ie. essentially giving the business away and just selling the assets).Contact us for a viewing and to find out more details about this great opportunity!

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