YotelPad, Hotel & Condos
Generous Leaseback Program Offers 8% Returns
April 23, 2018
Seeking financial freedom, a simpler lifestyle, and a smaller environmental footprint, many buyers are opting to downsize into smaller homes. How small? While the typical American home is around 2,600 square feet, the typical tiny house is between 100 and 500 square feet.
The featured property I have for you today is part of a chain of properties looking to capitalize on this tiny trend-maximizing space while keeping your costs to a minimum. Whether living in a small space appeals to you or not, the concept may be more attractive when you realize it comes with a big 8% guaranteed return. Read on for details.
Compact is the Next Big Thing
YotelPad will be a combination condominium and hotel located in exciting downtown Miami. It will feature a smart design that optimizes space and uses technology to provide a value-luxury experience in a dynamic location.
The Yotel concept is to design efficient private Pads equipped with the essentials, and common social spaces with plenty of wow factor. Guests and homebuyers get what they need at a lower price.
In YotelPad Miami, floors 1-14 will be a 250-room hotel. Floors 15-30 will have condominium units, which are what I’m able to offer for sale today.
An Attractive Leaseback Program
Even if the idea of living in a small space doesn’t sound like your tiny cup of tea, consider the concept for its investment potential. The developer is offering condo buyers an attractive two-year guaranteed leaseback of 8% of the purchase price after closing.
After two years, you’ll have the option of placing your condo into the hotel’s rental program at a rental split that is still to be determined, living in the unit, or renting it out on your own or through a service like Airbnb.
The developers of YotelPad have said they intend to build a property of four-star quality with a full complement of amenities including:
- Private residential lobby
- Elevated sun deck with pool, hot tub and bar
- Full-service restaurant and bar with outdoor paseo
- Skytop lounge featuring game area and chef’s kitchen
- Lounge and co-work space
- Organic matcha bar
- State-of-the-art fitness center
- Private meeting rooms
The property will also have 24-hour security and concierge services, valet parking and a “Pet Pad” with full grooming capabilities.
Open Concept Condos
The individual condos at YotelPad will come in studios, one bedroom and two bedroom units. They range in size from 425 sq. ft. to 708 sq. ft.
While technically not spacious, the units will feature open concepts with integrated living and dining areas and have all the comforts of a luxury home:
- Floor-to-ceiling glass windows
- Terraces overlooking downtown Miami
- Electrolux washer and dryer
- Nest thermostats
- Smart Lock system
- Furniture packages available
- Custom Italian kitchen cabinetry with stone finishes
- Smeg designer Italian appliances
- Custom Italian cabinetry with stone finishes in bathrooms
- Grohe and Toto bath fixtures, Monsoon showerhead
A Great Location
YotelPad sits in the heart of downtown, near neighboring upscale hotels, restaurants and cultured venues. It is located near the Miami Metromover station and Miami Dade College, and a block away from beautiful Bayfront Park. It is also within walking distance to the Bayside Marketplace (restaurants, bars, shops) and the American Airlines Arena where the Miami Heat play.
YotelPad is also a one-minute drive to major arteries such as I-95, and just minutes to the Port of Miami where the giant cruise ships dock, Miami International Airport and the beaches.
Construction onYotelPad is expected to begin December 2018 and take about two years to complete. Prices range from $282,000 to $466,000.
Want to know more? I’ve got plenty of details in my data sheet, yours for the asking:
Think Small, Very Small
The tiny home concept is interesting. In the case of YotelPad, you get affordable luxury, balancing a reasonable price (especially for downtown Miami), with the cachet of an upscale experience.
You have access to common areas, both indoors and outdoors, that offer plenty of fun, inviting ways to spend your time, unlike a tiny house in which everything is either contained in the house or you learn to do without.
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