Investors sometimes ask if they should buy a townhouse or a duplex or as in this example a new La Veleta Fourplex for investment. Our answer begins with the question “what is your lifestyle”. As you know, while a townhouse is ideal for a single resident or a single family, a duplex provides more flexibility. Since a duplex is a two unit home, and fourplex is a four unit property, it can accommodate two to four separate families or residents with each having a separate entrance, kitchen and living areas. This new La Veleta four unit property has 4 separate 1- bedroom units but may be used as 2 duplexes. For an investor with grown children, a duplex offers the flexibility of providing separation of the two groups. In addition, it can all be rented airbnb and an investor can purchase the entire building and come vacation in one unit or a duplex with family and continue to rent the rest for income.
La Veleta neighborhood of Tulum is changing quickly. A few years ago, it was mostly lower income and investing there took courage and foresight. Now, with Kulkulkan Avenue currently being paved, the beach will be less than a ten minute drive. Hotels are being built and more restaurants will follow. As a twenty year resident of Tulum recently said, “Playa del Carmen used to have twenty five thousand, mostly low income residents. Today, better condominiums start at $400,000. More if you want an ocean view.”
Tulum is becoming more of a year round destination for travelers. A few years ago, there was a high and low season for rental income purposes. Some investors would rent to “vacation renters” for several days or a week at a time from November through April. Then, look for someone to provide minimal rental income for the other six months. Summers are hot on the Riviera Maya, but judging by the half filled restaurants in July, the slow season is disappearing. A new La Veleta fourplex can provide appreciation, current income, a great second home and a way to get the family to vacation together.