Suitable for coliving
Has 3 bedrooms and 1 bathroom
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Sold
Cronista Viravens
Alicante
Funded
86.742 € (100%)
Total
86.742 €
95 investors
Sold
Total operation amount
86.741,63 €
Mortgage
0,00 €
Total to fund
86.741,63 €
Internal Rate of Return (IRR)
10,35 %
Gross rental yield
10,38 %
Net rental yield
5,45 %
Cash on Cash
7,26 %
Financial return (ROE)
5,45 %
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
24.150 €
Estimated term
5 years
Why invest in this apartment?
Rental demand in the area
a lot of interest in this type of apartment in Alicante
Acquired 30.44% below market price, according to our estimates
Intended for future sale
Apartment information
The acquired property is located in an area with rental demand, according to our estimates.
This is a spacious property located on a fourth floor (74 square meters), with a rectangular floor plan, with 3 bedrooms and an exterior bathroom. The property has a spacious kitchen with a gallery, and a spacious living-dining room.
Although the property is in good condition, we are going to update the bathrooms, the paint, the doors and the flooring, to leave a premium finish, which, according to our estimates, may add value to the asset. We are also going to furnish it and rent it out as coliving.
The main features of this property are:
- Price: Acquired at an average of €682.43 per square meter, 30.44% below its market price.
- Condition: the layout is going to be improved by adding a bedroom and a bathroom.
- Type: once renovated, the property will have 4 bedrooms with 2 bathrooms, one of them exterior.
- Versatility: Although it is an apartment suitable for coliving, it can also be used for vacation rental at certain times of the year. Many families demand this type of property.
- Residential use. We do not expect this use to depend on administrative licenses, although the applicable regulations would have to be verified.
- Potential: According to our estimates, this type of investment could achieve returns above 10%, although actual results may vary.
- Location: Very central, just a few minutes' walk from the city's main points of interest:
- Auditorium (public parking is located there): 7 minutes (500 meters)
- Bullring: 9 minutes (650 meters)
- Tosal Park: 11 minutes (900 meters)
- Plaza de España: from where you can take a variety of public transport and get around the whole city. 8 minutes (650 meters)
- Vithas Hospital of Alicante: 8 minutes. (650 meters)
- University Hospital: 12 minutes (1 km)
- Historic center: 10 minutes (850 meters)
- Central Market: 11 minutes (950 meters)
- Postiguet Beach: 16 minutes. (1.3 kilometers)
Technical specifications
City
Alicante
Neighborhood
Carolinas Bajas
Year built
1969
Cadastral reference
0183201YH2408C0016KA
Property type
Coliving
Investment type
Residential
Square meters
74
No. of bedrooms
3
No. of bathrooms
2
Manager
Brickstarter
Developer
Brickstarter
Very close to the historic center
Parks, restaurants, leisure areas…
Well connected by public transport
Less than 10 minutes from the bus or the tram
Residential neighborhood with its own amenities
Shopping center, 2 hospitals, parking, etc.
Documentation
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