Information about the apartment

BrickStarter is back with this new investment opportunity in Alicante. This a new penthouse with a huge private terrace with fantastic views to the Santa Bárbara Castle, that guests will love.

This will be probably one of BrickStarter busiest properties in Alicante due to its location, typology, and views. The apartment has two private terraces (one is huge, more than 30 square meters) overlooking the Santa Barbara Castle.

The property is a loft with two private terraces, with a living room, kitchen, bedroom, bathroom, and two private terraces: the first is at floor level, and the second is on the roof of the building. Ideally located in the historical center, close to the main point of interest the city and only a few meters from “El Postiguet” beach.

Although it is very close to many restaurants and bars, the apartment is located on a quiet street. 

The apartment is currently holding a vacation rental license.

Project summary

BrickStarter is dealing with a great opportunity. This apartment is (almost) in perfect condition and it will be able to receive guests from the very first day.

Furthermore, this is a good opportunity for other reasons. This apartment has some unique features:

1. Its huge private terrace with stunning views of Santa Barbara Castle is second to none. It also has a smaller terrace close to the kitchen, perfect for dining outside.
2. The location is perfect. It is right in the historic center, surrounded by restaurants, bars and the main point of interest of the city. It is a 5-minute walk from the beach and major tourist attractions. “Casco Histórico” is the highest occupancy rate district in Alicante.
3. This apartment has been used as a vacation rental property before, and based on our previous experience in Alicante, we are convinced of the profitability of the property.
4. The apartment is fully equipped and in good condition, but we will improve the interior decoration of the property, and especially both terraces.
5. Although it is located in the busiest area of the city, the apartment is located on a quiet street. During the day, you just need to open the balcony to enjoy the sun and breeze, and then walk down the street to enjoy the city's best restaurants and bars.
6. The apartment location is key to understand its value. Its distance to main points of interest are:

• San Nicolás Cathedral: 210 meters / 2 minutes walk.
• Plaza del Ayuntamiento: 220 meters / 3 minutes walk.
• Plaza de Santa María: 300 meters /4 minutes walk
• Central Market: 390 meters / 5 minutes walk.
• “El Postiguet” beach: 600 meters / 7 minutes walk.
• Santa Bárbara Castle: 850 meters / 14 minutes walk.

Operation Summary

Purchase price of the property (including renovation): 132.000,00 €

Mortgage: 0,00 €

Cost of initial works: 4.000,00 €

Taxes, paperwork and other initial legal costs: 0,00 €

Company Constitution and Registration: 0,00 €

Other property acquisition costs: 1.452,00 €

Other expenses: 0,00 €

Minimum cash: 600,00 €

Brickstarter Fees (Only purchase): 9.979,02 €

€Total: 141.031,02 €

Revenues forecast

Yearly rent income: 17.581,72 €

Amount to be received for the sale: 170.235,67 €

Gross Margin (Sale Price - Purchase Price): 15 %