Investment opportunity for sale in Alicante

This property is marketed by:
Derelict To Dream

€207,270 per fraction

Property Details

Townhouse - 8 Bedrooms - 9 Bathrooms - 298 Sq. M

Maximum investment - €207,270

Expected rental yield 22.6%

Holding period - 5 years

In the heart of the village, No 2 is a large property, currently offering 298m2 distributed over 3 floors, with the option to. extend the built area and turn the terraced areas into additional living space. It is being superbly renovated to provide 8 (or more) double bedrooms, all with an en-suite shower room - complete with generous walk in shower, toilet and basin. The ground floor will have an open plan kitchen, dining room with table and seating for sixteen people, and a sumptuous living room with wood-burning stove and hot & cold air conditioning unit. As well as a toilet with small basin for communal use.

Each bedroom also has its own hot & cold air conditioning unit. There is an outdoor terrace complete with seating area.

Amenities

The village has a 25m open air swimming pool, football, padel and basketball courts, alongside a popular restaurant. Set within a charming village, there are endless hiking, mountain biking and road cycling opportunities - the area is popular with amateur and pro-cycling teams training for competitions, including La Vuelta. The surrounding area has multiple villages known for their laid back atmosphere and traditional Spanish values and there are lots of places to visit to enjoy tapas, paella and old-fashioned Spanish hospitality.

About Us

Having realised money is safer. - and works harder - in property than in a bank, we bought our first Spanish property

Looking at many (not) key-ready options, and working out the cost of renovation on top, we decided to turn a (significantly cheaper) derelict ruin into our dream property, to use as serviced accommodation for our wellbeing holiday business. Last year we completed on four properties. 

Key Information

Property tenure - Freehold

Expected yearly rent from serviced accommodation - €352,800

Expected yearly expenses - €250,560

Expected Expenses Breakdown

Rental management - €62,640

Short term rental costs - €166,622

Refurbishment fund - €15,298

Insurance - €3,000

SPV admin - €3,000