Closed for investment
Information about the appartment
We present you a new opportunity focused on renting by rooms or 'coliving', a category that is giving us such good results.
This is a property located in the Benalúa neighbourhood, a central neighbourhood in the city of Alicante. Probably the best residential neighbourhood in Alicante. It is our first opportunity here, as our last opportunities were located in Campoamor and Carolinas Bajas, areas where the price per square metre is lower.
It has taken us a long time to find a good opportunity, and we are convinced that it is going to work extraordinarily well.
Once again we are going to carry out a complete reform of the property to obtain maximum profitability, adding an extra bathroom and perfect finishes.
As we have already mentioned, the Benalúa neighbourhood is probably the best residential neighbourhood in Alicante, close to the Historic Centre and the Postiguet Beach, as well as the commercial centre of the city, in an area surrounded by services, schools, parks, supermarkets and leisure areas, ideal for living.
One of the most special features of the flat is the price of acquisition, since we acquired it for a really economic price of 928€/m2. In the area in which it is located, the market price exceeds 1900 euros, so taking into account all the costs of acquisition, refurbishment, furniture, etc. we would still be acquiring the property with a 15% discount on the average market price.
Its good distribution and its good condition will allow us to maximize the profitability renting it by rooms. Its 5 bedrooms make it an ideal flat for rental type 'coliving', very demanded in this area of Alicante.
The acquisition of the property at such a competitive price allows us to obtain a very high profitability, with a stable flow of income and not being exposed to the seasonality of tourism.
The property is located on the third floor (77 square metres). The property will consist of a complete kitchen, 5 bedrooms, and 2 bathrooms. In the renovation, in addition to an overhaul, we will add a bathroom, as it currently only has 1. It will also have a kitchen-dining room that will add a lot of value to the property. It will also be furnished and rented on a coliving basis, which is ideal for the characteristics of the property.
The main reasons to invest in this opportunity are:
- Price: Including all the costs of refurbishment, furnishing, etc. we acquire the flat with a 15% discount on the market price.
- Condition: It is in good condition, although we will reform it so that it has 1 more bathroom (it currently has one), as well as an overhaul to leave it in the best possible condition.
- Type: It is a spacious and bright flat (77 square metres), with 5 bedrooms, 1 bathroom (plus another one that we will add) and a kitchen-dining room. All the rooms have natural light and 2 of them are doubles.
- Versatility: Although it is an ideal flat for coliving, in case it is considered it could be used for holidays due to its great location and to the fact that many families demand this type of properties.
- No legislative risk. We do not depend on administrative licenses.
- Potential: Thanks to its low purchase price and its 5 bedrooms, this type of flats can achieve yields of up to 10%.
- Location: Very central, just a few minutes walk from the main points of interest of the city:
- Park 'La Placeta': 2 minutes (160 metres).
- CEIP Benalúa: 2 minutes (200 metres)
- Benalúa Health Centre: 4 minutes (260 metres)
- Mercadona supermarket and bar/restaurant area: 4 minutes (300 metres)
- El Corte Inglés: 7 minutes (550 metres)
- Plaza Seneca: 8 minutes (650 metres)
- Shopping area such as Zara, Sephora, Mango, etc. 8 minutes (650 metres)
- Bus station: 9 minutes (700 metres)
- Port of Alicante: 12 minutes (1000 metres)
- The Historic Centre: 16 minutes (1300 metres)
Purchase price of the property (including renovation): 78.650,00 €
Mortgage: 0,00 €
Cost of initial works: 39.250,00 €
Taxes, paperwork and other initial legal costs: 0,00 €
Company Constitution and Registration: 0,00 €
Other property acquisition costs: 865,15 €
Other expenses: 0,00 €
Minimum cash: 600,00 €
Brickstarter Fees (Only purchase): 8.622,35 €
€Total: 127.987,50 €
Yearly rent income: 12.960,00 €
Amount to be received for the sale: 153.585,00 €
Gross Margin (Sale Price - Purchase Price): 20 %