Information about the appartment

Brickstarter is proud to present a new opportunity focused on room rentals or 'coliving' (non-holiday real estate).

This property is located in the Campoamor neighbourhood, a 10 minute walk from the city centre. After a small renovation, it will have 4 bedrooms and 2 bathrooms (ideal to get the best profitability possible), a spacious and bright living room, as well as a fully equipped kitchen.

This property is located just 4 minutes away from two other opportunities, both in the same building, in San Leandro street, so we know the area and we know the enormous potential it has, as it is surrounded by schools, parks, supermarkets and leisure areas, ideal for living.

In addition to its good condition, location and distribution, we can highlight the price of acquisition, as one of its essential characteristics, since, we acquired it for a price of 71.000 €, (19,23% below its market price).

This, together with its good distribution, will allow us to maximize profitability by renting it by rooms thanks to its 4 bedrooms.

Brickstarter knows the high demand for this type of accommodation in this city and how sought after this type of accommodation is so well located, so we have no doubt that it will work just as well as our opportunities in San Leandro Street.

Acquiring the property at such a competitive price will allow us to obtain a very high profitability, with a stable income stream and not being exposed to the seasonality of tourism.

Project summary

We are facing a great opportunity as we are acquiring a property located in an area of very high demand.

It is a property located on the third floor (60 square metres), with a rectangular floor plan, which we will modify to have 4 bedrooms and 2 bathrooms. 

Although the property is in good condition, we are going to update the bathrooms, paintwork, doors and flooring to a premium finish which will add value to the asset. It will also be furnished and rented on a coliving basis.

The main reasons to invest in this opportunity are:

1. Price: Acquired at an average of 1.183 euros per square metre, 19.23% below its market price.
2. Condition: the distribution will be improved, adding a bedroom and a bathroom. 
3. Typology: when the property is refurbished it will have 4 bedrooms with 2 bathrooms, all of them exterior.
4. Versatility: Although it is an ideal flat for coliving, it can also be used for holiday rentals at certain times of the year. Many families demand this type of property.
5. No legislative risk. We do not depend on administrative licenses.
6. Potential: This type of investment can achieve returns of more than 10%.  
7. Location: Very central, just a few minutes walk from the main points of interest of the city: (photos of the distances are on the server)

• Bullring: 4 minutes (350 metres)
• Plaza de Santa Teresa: 5 minutes (400 metres)
• Auditorium of the Diputación de Alicante: 7 minutes (500 meters)
• San Fernando Castle: 7 minutes (550 metres)
• Central Market: 7 minutes (550 metres)
• Monte Tossal Park: 10 minutes (600 metres)
• Historic Centre: 11 minutes (900 metres)
• Swimming pool: 15 minutes (1km)

Operation Summary

Purchase price of the property (including renovation): 78.100,00 €

Mortgage: 0,00 €

Cost of initial works: 29.780,00 €

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

Company Constitution and Registration: 0,00 €

Other property acquisition costs: 859,10 €

Other expenses: 0,00 €

Minimum cash: 600,00 €

Brickstarter Fees (Only purchase): 7.894,46 €

€Total: 117.233,56€

Revenues forecast

Yearly rent income: 13.440,00 €

Amount to be received for the sale: 1348181,59 €

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