Closed for investment
Undoubtedly, we are facing a great opportunity, this property is located in an area of high demand in the municipality of Elche.
It is a spacious property (100 square meters), located on a third floor of rectangular plant, which we will reform to obtain 5 bedrooms and 2 bathrooms, making the most of its distribution to maximize the benefits. As a common area we will keep a large kitchen that will also serve as a dining room.
Although the property is in good structural condition, the bathrooms, paint, doors and flooring will be updated to give it a premium finish, adding more value to the asset. As always, the furniture, appliances and other equipment will be renovated to be rented on a coliving basis.
The property is very well located in a very consolidated and high demand residential area, because it has all the services of a residential neighborhood (such as supermarkets, pharmacies, medical centers, gyms and even a shopping center). It is also well located from the CEU Cardenal Herrera University and the historic center.
The main reasons to invest in this opportunity are:
- Price: It has achieved an unbeatable price for the property. Allowing to obtain an average price of 450 euros per square meter, 42.23% below its current market price.
- Condition: Currently, the apartment is in good condition. However, the apartment will be refurbished to add an additional bedroom and bathroom, as well as an overhaul to make it fully ready to be rented with a premium finish.
- Typology: it is a property with 5 rooms, suitable and ideal for coliving. In addition, it will have 2 bathrooms and a large kitchen that will serve as a common area. The property, rectangular, is perfectly distributed.
- No legislative risk. It is a property that is 100% free of encumbrances or registry encumbrances. In the same way, as it is ideal for coliving, it does not depend on administrative licenses for its exploitation.
- Location: Very centrally located just a few minutes walk from the main points of interest of the city:
- Versatility: Although it is an ideal apartment for coliving, it can also accommodate families. In summer many similar properties are dedicated to vacation rentals. As it is an occasional activity, no license would be needed. It should be remembered that Elche has 3 properties inscribed on the UNESCO World Heritage List.
- Potential: The characteristics of this property, and above all its acquisition price, give this property a very high potential for revaluation and to generate recurring income.
Why invest in this apartment?
Very competitive selling price: that will allow us to sell this property in no time
A 5 bedroom and 2 bathrooms apartment: perfect to maximize coliving yield
Acquisition price below market price: 42% below its market price. Bank opportunity
High IRR = 12.45%: one of the highest forecast yield
Perfect for coliving: it will have 5 bedrooms and 2 complete bathrooms
High rental yield = 6.13%: High demand on Elche for this kind of properties
Information about the appartment
We present our new investment opportunity focused on the medium stay or coliving (non-holiday property), which is giving us such a good result.
We had spent many months studying the town of Elche and it has cost us a lot to find this first opportunity because, as you know, we do not like to risk or speculate. It is a bank opportunity that has cost us a lot to audit and negotiate.
In addition to its good condition, location and distribution, we can highlight the acquisition price, as one of its essential characteristics, since we acquired it at an average of 450 euros per square meter, (42% below its market price).
The property has a rectangular shape which will allow us to make the most of its surface reforming it to obtain 5 rooms (all with natural light) and 2 complete bathrooms.
Acquiring the property at such a competitive price allows us to obtain very high profitability, with a stable and constant flow of income over time.