Estimated Internal Rate of Return (IRR):
The project estimates an IRR of 11.41%
Under Management
Benasal Apartamento C
Castellón de la Plana
Funded
65.244 € (100%)
Total
65.244 €
253 investors
Under Management
Total operation amount
65.244,44 €
Mortgage
0,00 €
Total to fund
65.244,44 €
Internal Rate of Return (IRR)
11,41 %
Gross rental yield
11,50 %
Net rental yield
5,07 %
Cash on Cash
6,76 %
Financial return (ROE)
5,07 %
Investing in this product involves the risk of losing some or all of the capital invested. Past or estimated returns do not guarantee future returns.
Total operation: Total investment in the project.
Mortgage: Bank financing that will be requested to carry out the project.
Total to fund: Funding requested from investors.
IRR: Return offered by the investment.
Gross rental yield: Total annual rental income from the property divided by the total cost of the operation.
Net rental yield: Investor rental return (after deducting all project costs) relative to the total operation.
Cash on Cash: Income obtained by the shareholder relative to their investment.
ROE: Net financial return for the shareholder.
Renovation / works
39.000 €
Estimated term
5 years
Why invest in this apartment?
Opportunity acquired and works started
We hope to have it ready on the market within a short period, although this is not guaranteed.
Our 8th opportunity in Castellón
Experience in the Castellón market, where we know the demand.
Apartment information
This investment is characterized by the following aspects:
- Acquisition at a price below market according to our analysis: The acquisition price of the property is €65,244, with an estimated potential future price of up to €78,293, with no guarantee.
- High residential demand: The property is located in an area with high demand for housing, according to our analysis, thanks to its location.
- Strategic location: The property is located in a prime area, surrounded by essential services such as pharmacies, supermarkets, public transportation and parks. In addition, its proximity to hospitals and educational centers supports the quality of life of its future residents.
- Change of use: The transformation of the commercial space into housing may increase its value. This change improves the functionality of the space and may make it more attractive in the real estate market.
- Minimal investment in refurbishment: The property is in good condition and only requires the modifications needed to turn it into a functional and modern home.
Key Financial Aspects:
- Estimated internal rate of return (IRR) of 11.41%: This is an estimate that does not ensure a return on the initial investment.
- Expected appreciation of the property: An increase in the property's value up to €78,293 is projected, which could mean a capital gain, with no guarantee.
- Stability and high demand in the area: The location in an area with high residential demand and stable real estate prices supports the outlook for the investment, without guaranteeing its outcome.
Technical specifications
City
Castellón de la Plana
Neighborhood
Castellon de la Plana
Year built
1968
Cadastral reference
2698302YK5229N0001LP
Property type
Coliving
Investment type
Residential
Square meters
66
No. of bedrooms
1
No. of bathrooms
1
Manager
Brickstarter 004
Developer
Brickstarter
Proximity to Essential Services
The apartment is located in a prime area, surrounded by pharmacies, supermarkets
High Residential Demand in the Area:
The area has high demand for housing, which could make it easier to find tenants, with no guarantee
Close to Avenida Valencia
The city's main artery.
Documentation
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Issues
The works on the property were completed at the end of March. From that moment on, we began all the procedures necessary to complete the horizontal property division and the change of use, with all the documentation prepared and submitted to the notary.
However, when the file reached the Land Registry, the registrar requested an additional, unforeseen requirement: an agreement of the Owners' Meeting authorizing the segregation of the properties. It is important to clarify that this permission was not necessary for the change of use, but was for the segregation, according to the registrar's own interpretation of the regulations and of the community's bylaws.
Situations like this, although not common, are part of everyday life in real estate development and are not completely predictable.
After talking with the owners, it was agreed to call an extraordinary meeting, which was finally held on September 10, with the authorization granted at the second call. As it was not a universal meeting, the law requires waiting one month in case absent owners file objections. Once that period had elapsed, we received the final minutes at the end of October.
With the minutes now available, we have resumed the process with the notary and the Registry to complete the registration of the horizontal property division and the change of use. Our goal is to have this procedure completed before the end of the year.
In parallel, we have received inquiries from potential buyers for these units, and we hope to be able to close the sales as soon as the Registry completes the registration, although we cannot guarantee the timing.
We will keep you promptly informed of the final progress.