Renovated colonial style mansion in Altos del Golf

US $ 5.600.000


Type house:

Location: Altos de Golf, Panama City

 Photos 26


The house is located in Altos Del Golf community in the San Francisco area of Panama City. The neighborhood is considered the finest and most prestigious area of the city. Many embassies have offices and residences here. Past presidents of Panama also live in Altos Del Golf. San Francisco is the heart of the city. It is where the banking, hotel, and financial districts are located. Altos Del Golf is a quiet oasis in the city, but convenient to everything without the traffic hassles of a commute from an outlying area. Taxi and bus service is convenient to the neighborhood, as are hospitals, restaurants, malls, and grocery stores.

The new owner converted a classic Spanish villa into a contemporary style home. Today every aspect of this home and property are new, built to North American standards.
The home has the potential for being an embassy residence, corporate headquarters, or a luxury private residence. The home and grounds could easily accommodate 2-3 hundred guests.

Here is a laundry list of some of the improvements:
1- Truly, a gourmet kitchen, with Italian designer appliances, custom cabinets, island with sink.
and walk in pantry,
2- Custom bedroom closets, with desirable built in features throughout house.
3- Newly surfaced interior and exterior walls, making surfaces straight and square,
Exterior has a special two step hard coating trowelled on to prevent surface cracking, and give texture to the surface. Then two coats of paint were applied by hand.
4- Interior was given three coats of cream colored paint. Applied by hand.
5- Door and window openings were made square and uniform in height,
6- Interior and exterior door and window moldings were custom made on site from steel reinforced concrete,
7- New concrete floors were poured on all levels,
8-Highest quality 60cm Italian porcelain floor tiles throughout, marble pattern, can’t tell from natural marble,
9- New steel roof trusses,
10-New tile roofs,
11-Tower was given a new hip style roof to give the tower more height,
12-Built in and concealed gutters and downspouts, storm water is carried away from the front and rear of the house and yards to the municipal storm sewers via gutters,
13-New underground electric service,
14-Custom made cedar doors and windows made on site,
15-Excessive amounts of new electric service,
16-Most rooms have accommodations for a large screen TV with concealed in-wall wiring conduit,
17-Extra wall outlets in all rooms,
18-New water supply and drain lines,
19-Eleven zones of Lennox inverter air conditioning units, with condensate drains built in,
20-New stamped concrete sidewalk for frontage walkway,
21-New stamped concrete driveway,
22-New stamped concrete patios, balconies, and terraces
23-Stamped concrete covered sidewalks around perimeter of house,
24-Restored privacy/security walls surround property,
25-Three extensive outdoor terraces are new and provide for outdoor entertaining,
26-Existing pool was redesigned, and coated in Diamond Bright, new pump and filter,
27-Newly constructed pool house has a shower, pump room, storage room, and area for BBQ,
28-Home is traditional Spanish colonial. A copy of the appraisal will be provided to a serious buyer. Additions to the living areas subsequent to the appraisal total approximately 800 square feet. A current appraisal, dated March, 2018 values the property for over 5.6 million. The seller has priced the property to sell quickly, so they can get it off their books. The purchaser could easily resell this property for a profit. The land value alone is $2.5 Million.

The lot is slightly over a half acre, or over 2023 square meters. Living area is an estimated 10,000 square feet, or about 929 square meters. Front and rear yards were filled 8-10 inches with topsoil and sodded over with St. Augustine grass.
29-Mature landscaping, planted with a variety of trees and shrubs.
30-Built in LED lighting under the eaves on both living levels and tower is unique in the neighborhood.
31- Upstairs rooms are protected from sun and rain with terracotta roof overhangs.
32- A new set of architect drawings are included.

The main house has 4 bedrooms leading to either a balcony or terrace, each with ensuite baths. There are two additional half baths. Grand entry foyer is three stories in height with a circular style staircase, with wrought iron railing. Additional rooms include a huge formal dining or conference room, oversized kitchen with two room pantry, family dining area, living room, family room, utility/laundry room, wine cellar. All rooms have French doors leading outdoors. Master bedroom has private dressing area, walk in closet, huge bath area, private throne room, and french doors to terrace where there is plumbing for a future spa. The upper level is nearly surrounded by a terrace with lighted balustrade, hand made on property.

From the front entry, one can either enter the house, or enter the private office suite. The office suite, has two very large rooms with large windows to bring the outdoors in. This area has a half bath and plumbed for a future kitchenette. The owner can enter the office area via a private hall from the residence. Thus, a guest does not enter the main residence to enter the offices. Each office room is separately air conditioned.

The garage could easily accommodate up to 5 cars. Entry from the garage to the house is via two separate entries.

A casita for staff, with two separate living areas, is attached to the rear of the garage. Each unit has an ensuite bath. One room has a kitchenette with gas range, oven, refrigerator, microwave, and a stackable washer and dryer. Each unit is separately air conditioned.

At the time the property was mortgaged, about 9 years ago, an extensive professional appraisal was made for the property. The appraisal was for $5.3 million US. That was for an old style colonial in less than perfect condition. Considering 9 years off appreciation, and the extensive renovations, this is truly an opportunity not to be missed.


Price US $ 5.600.000
Selling type SALE
Status Available
Date of post February 26, 2019
Type House
Build year 2018
Lot size 2023 m²
Construction size 929 m²
Rooms 4
Bathrooms 6.5
Layers 2
Garage 5
garden Yes


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