Projected Return
Estimated IRR of 11.50%, which could vary if the property is sold in less than a year.
Under Management
Calle Lucena- Estudio A
Castellón de la Plana
Funded
77.019 € (100%)
Total
77.019 €
172 investors
Under Management
Total operation amount
77.018,94 €
Mortgage
0,00 €
Total to fund
77.018,94 €
Internal Rate of Return (IRR)
11,50 %
Gross rental yield
10,91 %
Net rental yield
4,84 %
Cash on Cash
6,45 %
Financial return (ROE)
4,84 %
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
44.000 €
Estimated term
4 years
Why invest in this apartment?
Increase in Property Value
The conversion from commercial to residential use may increase the property's value
Flipping Project
The objective is to sell the property as soon as possible, which could change the IRR compared with the initial estimate.
Apartment information
This is the first unit of the project that will transform two old commercial spaces in Castellón de la Plana into modern and functional residential units.
This project also involves a change of use from commercial to residential, allowing the acquisition at a low purchase price (€612.5/m²) compared to the residential average of €1,790/m² in the area. It entails converting the commercial spaces into independent studios, fully equipped with a bedroom, bathroom, and kitchen.
Moreover, according to our analysis, Castelló de la Plana shows market activity with competitive average prices. This, combined with the growing demand for well-located residential spaces, could support both rental income and long-term appreciation.
Project Details:
Address: Cl. Lucena, Castelló de la Plana
Year of Building Construction: 1998
Approximate Size per Studio: 40m²
Acquisition Price: €77,018.94
Estimated Sale Price per Studio: €88,571.78
Mortgage: No mortgage.
Estimated Annual Rental Income: €8,400.00.
According to our analysis, studio apartments in Castellón de la Plana respond to the housing demand of a city with economic activity.
Location
One of the features of this project is its central location. The property is situated in a central area, surrounded by shopping centers, restaurants, cinemas, theaters, and various leisure options. Furthermore, the area is well connected: it has several public transportation lines and direct access to the highway, facilitating mobility.
The area has nearby green spaces, offering a pleasant environment. The presence of banks, post offices, pharmacies, supermarkets, and other essential services makes daily life easier for its residents.
Calle Lucena, in particular, is located next to the emblematic Ribalta Park, close to El Corte Inglés, the city's historic center, and main tourist attractions such as the Plaza Castle and the Teatro Principal. Altogether, this central location offers its residents quality of life and easy access to amenities.
Walking distance to nearby points of interest:
- Mercadona Supermarket (2 minutes)
- Castellón Provincial Hospital (3 minutes)
- Victor Vázquez Bayarri Pharmacy (5 minutes)
- Castellón Bullring (8 minutes)
- El Corte Inglés (9 minutes)
- Ribalta Park (9 minutes)
This opportunity has a total cost of €77,019, a projected appreciation of 15%, and an estimated internal rate of return (IRR) of 10.35%. The aim is to generate value for investors.
Technical specifications
City
Castellón de la Plana
Neighborhood
Castellon de la Plana
Year built
1998
Cadastral reference
2004930YK5320S0007WF
Property type
Flipping
Investment type
Residential
Square meters
41
No. of bedrooms
1
No. of bathrooms
1
Manager
Brickstarter 004
Developer
Brickstarter
Only 3 minutes from the Provincial Hospital
Demand from professionals and from patients.
Only a 9-minute walk from "El Corte Inglés"
Right in the commercial center, with restaurants and supermarkets nearby.
Only 9 minutes from Ribalta Park
Main city park
Documentation
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