Magazine

If you loved our last project in Castellón, you’ll be amazed by what we have in store for you in Alicante. We are proud to present our latest project: a building of 10 properties in the prestigious Benalúa neighborhood, one of the most sought-after residential areas in the city.

The building is located on Pérez Medina street, number 31, just a few steps away from our previous opportunity in Benalúa. This is a rare chance to acquire a property in this high-demand area, where the price per square meter is very competitive.

We are going to transform this property into 8 modern and spacious apartments, each with 3 bedrooms and a bathroom. All rooms will have natural light and high-quality finishes. We are also going to add 2 penthouses on the top floor, with stunning views of the city.

But that’s not all. We are also going to obtain tourist licenses for all the properties, which will increase their value and rental potential. This is a project that will deliver a high return on investment for our clients.

Don’t miss this opportunity to own a property in the center of Alicante, in a neighborhood that is growing and developing every day. Contact us today and find out more about this amazing project.

This is what we are going to do:

1. Buying the property (which has a single cadastral reference right now). It consists of a ground floor and three stories. 
2. We will renovate each story of the property to get two apartments with three bedrooms and a bathroom each. All the rooms will be large and bright.
3. We will increase the built area by adding two attics on the top floor. 
4. We will be able to get tourist licenses for all the properties since we own the whole building.

The building

This building is a rare gem in the market, with a single cadastral reference and a total built area of 693 square meters. It consists of a ground floor and 3 upper floors, each with 173 square meters.

1. The ground floor has a single house with a large backyard and high ceilings. We will transform it into two independent apartments, each with 3 bedrooms and a bathroom. 
2. The first floor already has two independent apartments, which we will update and modernize. 
3. The second and third floors have one apartment each, which we will split into two. 
4. The fourth floor is currently an open terrace, but we have obtained the permission to build two penthouses set back, with amazing views of the city. These will be smaller apartments, with 2 bedrooms, a bathroom and a kitchen each. This way, we will create 10 beautiful properties, 8 of them with 3 bedrooms, and 2 of them with 2 bedrooms. All of them will have tourist licenses, which will boost their value and income potential.
5. The building is in perfect condition, with no need for any repair or maintenance work, according to the building evaluation report. 

Don’t let this opportunity pass you by. Contact us today and learn more about this incredible building in Alicante.

Acquisition price

We are going to acquire this property for 530 thousand euros, which means 765 euros per square meter. This is a very low price, considering that the average market price is around 2,081 euros per square meter. Moreover, we will add an extra floor to the property, with two more penthouses, which will reduce the average purchase price per square meter to less than € 660. This is almost one third of the market price, a great deal. It is important to note that this is a short and medium term project, because we need to get a major work license to build the two new penthouses, and this will delay the sale of these properties. However, as we did in Castellón, we will publish each opportunity separately, when appropriate.