Investment property for sale in Alicante

This property is marketed by:
Derelict To Dream

€87,514 per fraction

The Wall has a protected (historic) facade which is waiting to be rebuilt into a character property. Situated behind the church, this property often features in pictures of the village, due it its impressive presence, Once rebuilt this will have 182m2 of living space distributed over 2 floors. It is being superbly rebuilt to provide 5 double bedrooms - one with disabled access on the ground floor, and four on the first floor. 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 ten 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 a garden, with outdoor kitchen, and seating for relaxing and dining. Along with a beautiful wood-fueled sauna

Amenities

The village has a 25m open air swimming pool, padel and basketball courts, along with a ping pong table. Set within a picturesque mountain range, there are endless hiking, mountain biking and climbing opportunities. Along with fantastic road cycling and the option to follow stage 8 of the 2023 La Vuelta. One of the five cafe/restaurants is owned and catered by a Michelin star chef.

Key Information

Property tenure - Freehold

Expected yearly rent from serviced accommodation - €22,500

Expected yearly expenses€156,600

Expected Expenses Breakdown

Rental management - €39,150

Short term rental costs - €104,150

Refurbishment fund - €8,500

Insurance - €1,800

SPV admin - €3,000

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