Perez Medina 1B

The apartment we are presenting this Friday will have 80 square meters with 3 bedrooms, one bathroom, and a kitchen, and will follow a similar layout to the project we shared last week, Pérez Medina 2B. This space can accommodate up to 3 people in a coliving model or up to 6 guests for vacation rentals.

The Benalúa building, where this apartment is located, is strategically positioned just a 10-minute walk from the old town of Alicante, which is a very touristy area of the city. This location could, according to our estimates, generate demand from both tourism workers and tourists for vacation rentals. Additionally, this apartment is surrounded by bars, restaurants, and entertainment areas, and is only a 10-minute walk from El Corte Inglés and the AVE train station.

Once the renovation is completed and furniture, appliances, and other necessary elements are acquired to make the apartment a habitable and functional space, this project is estimated to generate rental income.

The main features of this property are:

• Price: We acquired this property at a below-market price, according to our estimates, around 65% less than the average price per square meter of apartments in the area (€660 per square meter). This could leave room to sell the property at a higher price in the future, although this cannot be taken for granted.
• Legislative situation: As owners of the entire building, we have an easier time obtaining a tourist apartment license, which would allow us to offer the space for guest accommodation by rooms or for vacation rentals. Given that the location is very central, we can choose the option that generates more income for us.
• Condition: Since the ground floor is already divided into 2 apartments, in this case, we only need to carry out a renovation to update the apartment itself and obtain the desired layout, which will be similar to the apartment we published a month ago, Pérez Medina 1A. The only difference is that this apartment will have a wonderful terrace.
• Typology: This property will have 3 bedrooms, a kitchen, and a bathroom, a suitable layout for the coliving model. Additionally, when we obtain the tourist license, we can accommodate up to 6 guests in vacation rentals. The property is rectangular and will be laid out to make use of the available space.
• Versatility: As owners of the entire building, it is easier for us to obtain a tourist apartment license, which would allow us to offer the space for guest accommodation by rooms or for vacation rentals. Since the location is very central, we can choose the option that generates the most income for us.
• Potential: The characteristics of this property and, above all, its acquisition price, could, according to our estimates, favor its appreciation and the generation of income.
• Location: Very strategically located, just a few minutes' walk from the main attractions of the city:
  • Mercadona supermarket: 3 minutes (230 meters)
  • Spar supermarket: 4 minutes (300 meters)
  • Masymas supermarket: 5 minutes (500 meters)
  • El Corte Inglés: 10 minutes (750 meters)
  • Train station and AVE: 10 minutes (750 meters)
  • Bus station: 10 minutes (750 meters)
  • Arniches Theater: 7 minutes (600 meters)
  • Alicante city center: 15 minutes (1000 meters)
  • Alicante Central Market: 20 minutes (1500 meters)
  • Alicante seafront promenade: 15 minutes (1000 meters)
  • Casino Mediterráneo Alicante: 24 minutes (2000 meters)
  • Postiguet Beach: 30 minutes (2300 meters)