José Más Esteve

This is a spacious home (100 square meters) of rectangular shape on the fifth floor that will be restored to include 5 bedrooms and 2 bathrooms, making the most of its layout. We will keep a large kitchen that doubles as a dining room as a common area.

This property is located in an area with rental demand in the municipality of Elche. It has all the amenities of a residential neighborhood, such as grocery stores, pharmacies, health centers, gyms and even a shopping center. Likewise, the historic center and CEU Cardenal Herrera University are nearby. 

Although the building is structurally sound, updating the bathrooms, the paint, the doors and the flooring will give it a more elegant look. The furniture, appliances and other equipment will also be renewed so that it can be rented out as coliving.

The main features of this property are:

1. Price: The property was acquired at an average price of €364.58 per square meter, 53.20% below its market price (2022) according to our estimates.
2. Condition: At the moment, the apartment is in good condition. However, it will be updated to include an additional bedroom and bathroom, as well as a complete renovation so that it is fully ready to be rented out with a high-end finish.
3. Type: this is a property with 5 bedrooms, suitable for coliving. In addition, it will have 2 bathrooms, and a large kitchen that will serve as a common area. The property, rectangular, has a suitable layout.
   
4. Versatility: It can house both families and people who wish to rent individual rooms. Similar properties are mainly used as vacation rentals during the summer. Any occasional vacation use would be subject to the applicable regulations at any given time. It is important to bear in mind that Elche is home to three UNESCO World Heritage sites.
5. Registry and administrative status: According to our information, the property is free of registered charges or encumbrances. Likewise, as it is intended for coliving (mid-term stay), in principle it does not depend on tourist licenses for its operation.
6. Potential: According to our estimates, the characteristics of this property and its purchase price could favor its appreciation and income generation, although this is not guaranteed.
   
7. Location: Well located, just a few minutes' walk from the city's main attractions:

• Supermarkets: 5 minutes (450 meters)
• “Corte Inglés” shopping center: 5 minutes (400 meters)
• Ciudad de Elche shopping center: 5 minutes (400 meters)
• L'Aljub shopping center: 8 minutes (600 meters)
• 24-hour pharmacy: 8 minutes (600 meters)
• Asisa Elche Medical Center: 10 minutes (800 meters).
• San José Market: 12 minutes (650 meters)
• Historic center, Plaça de Baix: 19 minutes (1,500 meters)
• CEU Cardenal Herrera University - Elche Campus: 12 minutes (950 meters)
• Hospital del Vinalopó, Elche:  17 minutes. (1,300 meters)
• Media Markt, Carrefour and Decathlon stores: 25 minutes (1,900 meters)
• Palmeral of Elche: 27 minutes (2,100 meters)