Perez Medina 2B

This project, which is part of the Benalúa building, can accommodate up to 6 guests as a vacation rental or 3 tenants as a coliving property, thanks to the 80 square meters, 3 bedrooms, one bathroom, and kitchen that we will obtain after the renovation, just like the 2 projects we have mentioned previously in this building in Alicante.

This apartment is in a very strategic location in the city of Alicante to receive demand for both vacation and coliving rentals, according to our estimates, being just a 10-minute walk from the old town of Alicante, one of the most visited areas of the city. This location is favorable because the demand we mentioned is supported by the services around the building, such as bars, restaurants, leisure areas, and several other relevant points of interest in Alicante, such as the aforementioned old town, El Corte Inglés, and the AVE train station just a 10-minute walk away.

Once the renovation work has been completed and the necessary furniture, appliances, and other elements have been acquired to make the property habitable and functional, it is expected that this project will generate rental income.

The main features of this property are:

• Price: As mentioned before, we have obtained a price of around €660 per square meter, which, according to our estimates, is 65% below the average market price per square meter in the area. This could make it easier to sell the property at a higher price in the future, although the result will depend on the market.
• Legal situation: The property is completely free of liens or encumbrances. In addition, being the owners of the entire building is an advantage in obtaining the tourist license, as there is no need to make agreements with any other owner, making the process easier.
• Condition: The project is located on the second floor, which will be divided into 2 apartments, this one and the Pérez Medina 2A already published. Only the renovation of the apartment needs to be carried out to obtain the desired layout.
• Property type: This property is suitable for the coliving concept, as it has the necessary features: three bedrooms, one bathroom, and a spacious kitchen. Additionally, its rectangular layout allows for adequate space organization. In the future, once we obtain the corresponding tourist license, we will also be able to offer vacation accommodation for up to 6 guests, depending on what is most profitable for our investors.
• Versatility: As owners of the entire building, we have greater ease in obtaining a tourist license, which would allow us to use it for room rentals or vacation rentals. Being located in a central area, we can choose the option that provides us with greater income.
• Potential: The features of this property, combined with its purchase price, could give it potential for appreciation and for generating rental income. This is largely due to its strategic location in the Benalúa district.
• 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 supermarket: 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 (1,000 meters)
  • The Central Market of Alicante: 20 minutes (1,500 meters)
  • Alicante promenade: 15 minutes (1,000 meters)
  • Casino Mediterráneo Alicante: 24 minutes (2,000 meters)
  • Postiguet Beach: 30 minutes (2,300 meters)