Zorita 20 - Apartment 3

At Brickstarter, we are delighted to present our third opportunity of the year. This three-bedroom apartment belongs to the third property to develop at the Zorita Street Building, as mentioned in our blog and in our first opportunity launched last week.

In that post, we detailed our plan to enhance value by altering land use and dividing a property (the whole building) into six smaller ones, each with a favorable sale price, allowing us to sell them quickly. As mentioned, this is our most ambitious project where more value is added to the properties.

This is the third-floor project of the building and it is completely open. It is necessary to create the entire house but since we have the plans for the first and second floors, we will build a house with similar characteristics, distributed in three rooms, a bathroom, and an American-style kitchen. Once the reforms are finished this property will have 83 square meters.

This 3-bedroom property will have excellent features for coliving rental. We can highlight a very spacious bedroom with a balcony, a double room, and a very spacious American kitchen. It is also important to note that all rooms will have windows which provide plenty of natural light to the apartment and this will be reinforced by the fact that it is on the third floor. Once furnished, the apartment will be cozy to relax after a long day. With its excellent location and the beautiful finishes that we will be adding, this will be an excellent investment property.

As we mentioned in the opportunity launched last week, the whole building allows us to obtain an excellent purchase price and excellent price per square meter ratio, which will allow us to set a very competitive selling price, and flip the property in no time.

Despite having a higher renovation cost due to this apartment being completely open plan, the total investment in the apartment is similar to the apartments on the first and second floors, as those had a higher acquisition cost assigned to them.