British investor pays $3.5M cash for 12-bedroom vacation rental in Reunion
By Tiffani Sherman
Jul 15, 2019 at 3:57 PM
A vacation rental home that can comfortably sleep 32 people just changed hands in Reunion Resort.
The 12-bedroom house on Desert Mountain Court sold last month for $3.5 million in cash. There are also 16 bathrooms in the 12,602-square-foot home on just more than a third of an acre. The dining room can seat 18.
“When I would go in there to make it show-ready, it would take me about 45 minutes to get every single light switch tuned on,” said Alex Lopez, listing manager for Top Villas Realty, who represented the seller. “It is a humongous and beautiful house.”
This home, as well as a majority of others in the exclusive gated community, are either vacation homes or investment rental properties. During low season, this home rents for about $1,400 per night and for about $2,200 in high season.
“It's usually big corporations that will rent out this house, or just multiple families,” Lopez said, adding the home has a theater and convertible game rooms that are perfect for both corporate meetings or family fun.
Some bedrooms have bunk beds with kid-friendly themes like heroes or princesses with attached bathrooms complete with multiple sinks, shower stalls, and toilets. Other bedrooms have larger beds and are designed for adults, each with attached bathrooms.
There are even some surprises.
“[There is a] a hidden room which is kind of like Harry Potter so when you push the wall, it will open up and there'll be a hidden surprise, an underwater themed [playroom].” Lopez said, adding the room has a pirate ship with interactive sounds. “That room was just beautiful.”
The sellers, Michael and Joann Haas, are New Jersey-based investors. The buyer is an investor from the United Kingdom with a Delaware-based company, Lily May Management, Inc. The property was only on the market for about 100 days. He is keeping the same property management company, Magical Vacation Homes.
“They day we closed, there were guests inside there already, so it was a smooth transfer,” Lopez said. After each guest, the management company sends in a team of people to repair any damage and thoroughly clean the house. They will even touch up the paint.
“Every person who is coming in to rent the property will get experience of it being almost a brand-new house every time,” Lopez said. “You have to keep that high caliber property in order for you to keep renting it out to the elite clients that come in.”
Guests who rent the property have access to Reunion Resort’s three golf courses, seven restaurants, 12 pools, two pro shops, and water park.
“It's on the golf course, right on hole number one of the Jack Nicklaus golf course, but it’s not in an area where you're right by the tee box, so you're not going to have the headaches of hearing people miss golf balls and yelling,” Lopez said.
The house was built by McNally Construction Group. The sellers have two other properties in Reunion Resort and Lopez told GrowthSpotter their plan is to build a larger rental property.
“He’s not leaving anywhere, he’s just going to keep reinvesting into the resort,” Lopez said. “He wants to stand out as being the one amazing location that people can come to and enjoy tons of amenities in the actual house.”