Zorita 20 - Apartment 1

At Brickstarter we want to start this year in the best way, with the most ambitious opportunity to date and one that we are sure will exceed all of our investors expectations.

For this opportunity, we are going to buy one building, develop up to 6 properties and turn it into a coliving center. 

 As we have explained in our last blog post, this is a very ambitious project in which we are going to add a lot of value through actions such as changes in land use (the registered use of the land) and horizontal division (split one registered property into different ones to be able to sell them separately). We will develop 6 different properties with a very competitive final sale price, which will allow us to "flip the properties" in a short period of time. This is the first of the six properties.

As we have already mentioned, Castellón is positioned as one of the most interesting areas for investment due to its high demand and one of the best relationships between the rental price and the purchase price per square meter.

This is not our first opportunity in Castellón where we´ve been tracking the market for a few months by placing some ads offering rooms like these in this area. As a result, we have detected a very high demand for this type of coliving properties.

This first apartment has been just renovated, and we will only make a small intervention to obtain an additional room. This is why we want to develop it first, because we will be able to host guests in no time. 

It is a spacious property of 83 square meters, from which we will obtain 3 large Premium rooms. The property will have a bathroom and a large kitchenette that will function as a common area.

This opportunity is excellent due to its price (32% below its market price) and location, as it is located in one of the areas with more demand for rooms for rent due to its proximity to the University of Castellón, train station, and Ribalta Park.

We must remark that the whole building will be acquired and fully renovated, adding lots of value to the whole property.