The Guide to Your New Apartment Building

(with 3 Nicely Furnished Apartments)

On the Shores of Beautiful Lake Atitlan

Panajachel, Guatemala

 

Location of apartment in Panajachel, Guatemala

Live in one and rent the other two is one option.

Introduction

Congratulations. You are on your way to owning a new apartment building that has been loved, taken care of, and has provided a reliable, stress-free income for us.

About the Apartments

The apartment building is a 3-story reinforced concrete building. Each floor has a furnished open-concept apartment with 3 large vinyl windows, allowing the entry of lots of natural light. The apartments have kitchens with Frigidaire refrigerators and stoves. They also have Olympia king sized pillow top beds.

Exterior of the apartment

Interior of the apartment

Interior of the apartment

Interior of the apartment

Interior of the apartment

About Panajachel

The apartment building is located in Panajachel, Guatemala, a relaxed town with an international community and tourist services. Panajachel is located on the shores of Lake Atitán, the deepest lake in Central America, and is often referred to as the Gateway to Lake Atitlán because it is the central hub where boat service is available to all of the towns around the lake. With an elevation of approximately 1600 meters above sea level (1 mile), the town enjoys a mild, spring-like climate year round. Daytime highs rarely exceed 27 degrees Celsius (80 degrees Fahrenheit) and nighttime lows rarely drop below 10 C (50 F).

Panajachel also has 2 supermarkets (Torre and Despensa), 2 specialty food stores (Chalo’s and Sandras), and a large market that is full of fresh and locally grown fruits, vegetables, and meats. There are also restaurants, cafes, and bars as well as nearby tourist attractions. One example is the Reserva Natural which offers nature trails, waterfalls, zip-lines, a butterfly dome, and spider monkeys.

Tuk-tuk services (an affordable 3-wheel vehicle taxi service) is available throughout the area, so there is no need for a car. There are public buses and regular sedan and van taxi service easily accessible as well.

One must-see event is the annual Kite Festival which is located in San Andrés, on the top of a mountain just outside of Panajachel. Another must-see event is the Semana Santa (Easter Week). To celebrate, they close the streets and carpet them with elaborate murals made of colored sawdust and fresh fruits and vegetables.

Lake Atitlan and waterfall

Fresh foods and flowers at Panajachel Market

Kite Festival

Natural wonders, Botanical Gardens

Lake Atitlan and Volcanoes

Semana Santa carpets

About the Construction

This building is designed with sufficient steel to resist seismic forces and has been built with attention to detail.

Construction photos

Construction photos

Construction photos

Construction photos

Construction photos

Construction photos

Water and Gas

The water system includes an underground concrete cistern. The cistern has a capacity of 7200 liters (1900 gallons). It can be filled with municipal water or rainwater from the roof. There is a .75 horsepower pump to provide good pressure to all of the floors.

Each apartment has its own propane water heater and propane stove with oven. The gas tanks are located on the first floor.

All of the sewer pipes have traps and ventilation. There is also a sewage tank to collect toilet paper before the water leaves to the municipal sewage system.

Construction photos

Construction photos

Construction photos

Construction photos

Construction photos

Electricity

The electric service is 220 volts. There is a main shutoff switch on the inside of the garden wall. The main circuit breaker box is in the closet beneath the stairs. The electrical outlets in the bathrooms and above the kitchen counters are protected against ground fault with GFI outlets.

Electricity and GFI outlets

Appliances

Each apartment is equipped with a Frigidaire 144 liter (5 cubic foot) refrigerator and a Frigidaire 4-burner propane stove with a 60 liter (2.1 cubic foot) oven.

The washing machine is a Whirlpool Expert System 16 kg (35.3 pound) washing machine. There is a covered clothes drying area beneath a transparent roof.

Stove, Refrigerator, Washer

Trash Collection

The municipality collects trash and recyclables on Tuesdays. On Wednesdays, they collect food scraps and organic waste.

Paint

Interiors – Lanco Supra white satin anti-mold water-base

Exteriors – Lanco Supra Sun City (yellow) satin anti-mold water-base Garden – Lanco white impermeable with silicon water-base

Roof – Seca Rapida anticorrosiva fast drying anti-corrosive oil-base

Furniture – Sherwin Williams Barniz Poliuretano Base Agua Brillante Para Pisos Water-base varnish

Internet, Television, and Telephone

Each apartment is wired for internet, television, and telephone.

Financials

The apartments are rented for Q2300 ($300) / month. The following numbers are averages based on the first half of 2020.

Income and expenses in Quetzales and USD

Occupancy

The apartments are rented below market value and as a result have very high occupancy rates This gives us the opportunity to be selective with the tenants. We generally have a waiting list. The occupancy during the first half of 2020 was 100% despite the downturn in tourism due to the COVID-19 closures. The tenants are punctual with payment and this results in a steady, stress-free income stream and excellent relations for both parties.

Marketing

The Facebook Group “Atitlan Rentals & Home Sales (No Realtors)” has proven to be an excellent way to find new tenants. Also, a lot of people have seen the apartments and there are a constant stream of word-of-mouth referrals.

Maintenance

With new concrete block construction, cypress furniture, ceramic tile flooring, and new appliances, maintenance is minimal.