- ID: 4855
- Published: February 14, 2020
- Last Update: November 20, 2020
- Views: 583
Malapascua Island, Philippines
Approximately 120km from Cebu City, Malapascua Island lies off the most northern tip of Cebu Island. The journey from the city to Daan Bantayan is around 3-4hours, from there a 45 minute boat journey takes you to the island.
Malapascua is a diving mecca being one of the only places in the world where you can dive within recreational limits with the amazing Thresher Sharks. There are over 30 different dive sites located around the island offering some lovely reefs, great wrecks and abundant marine life.
The stunning Bounty Beach, is similar to the famous white beach on Boracay Island and is where most of the dive resorts, bars and restaurants are located. A second quieter white sand beach can also be found on the northern tip of the island.
The compound consists of a large two-bedroom house, a smaller one-bedroom house, a studio apartment, perimeter wall, private well with water tower, 5 chamber septic and is connected to island power. All houses are western designed and fully furnished, facing onto each other overlooking a central patio surrounded by garden.
The two-bedroom and one-bedroom house are both constructed of solid concrete on good foundations. The studio apartment is above the one-bedroom house and is constructed with a combination of concrete and hardiflex.
The septic is located underneath the central patio, the well is located adjacent to the perimeter fence beside the one-bedroom house.
1 Bedroom House
Originally built as a small apartment for grandparents. This house consists of an open plan living area with half kitchen and living room with sliding glass doors leading to a terrace over looking the patio. The master bedroom has air con and ceiling fan and an en-suite bathroom with hot water shower. This apartment once had satellite TV and air con in the living area.
The property is labelled as “Lolo Guest House” on Google maps
Private walled in compound of 471sqmts located on the newly constructed (yet to be finished) main island road, 2 minutes from Bounty Beach behind Exotic Island Dive Resort and Evolution.
Walking distance to the main market and close to many bars and restaurants. The compound is nestled in between a local village and Sharks Tail Dive Resort.
The land was purchased in 2007 and all construction was completed by 2008. A family compound; the property was lived in until 2011 when the family relocated to another area in the Philippines.
From 2011 – 2017 the entire property was rented privately from a local resort to house management.
Typhoon Yolanda hit the island in 2013 and the property suffered minor damage, mainly to the nippa roof and the perimeter fence. All damage was repaired, a new perimeter wall was built and all buildings were repainted internally and externally.
After undergoing a few months of maintenance repairs, painting and new furnishings the property was then listed on AirBnB in 2018 and remains there to date.
In 2019 the nippa roof on the main house was replaced with corrugated tin.
The property is currently listed on AirBnB and has a constant flow of guests staying in all 3 units, bringing in an average of Php100,000-150,000/month. The family still use the property on a regular basis as a holiday home and it is ready to sell as a turn key property. There is still ample space within the compound grounds to extend either buildings or construct something new. The foundations in the main house were constructed with the idea of potentially fitting a full second floor.
Asking Price: Php 12,500,000
All associated taxes and legal fees are to be shouldered by the purchaser, except capital gain tax.
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CEBU REALTY AND BROKERAGE
Real Estate Broker: Gerardo Yangyang
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