Acquisition price
Cost per square meter of €350/m², significantly below the market average
Not achieved
Apartamento Pintor Soler Blasco
Castellón de la Plana
Funded
151.145 € (100%)
Total
151.646 €
314 investors
Not achieved
Total operation amount
151.645,77 €
Mortgage
0,00 €
Total to fund
151.645,77 €
Internal Rate of Return (IRR)
11,58 %
Gross rental yield
11,87 %
Net rental yield
5,74 %
Cash on Cash
7,65 %
Financial return (ROE)
5,74 %
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
84.590 €
Estimated term
5 years
Why invest in this apartment?
Estimated IRR of 11.58%.
Sale and rental price assumed to be below current market prices
Value-added project
Renovation, change of use and horizontal division
Apartment information
With this second phase, we continue advancing in the conversion of a commercial space into modern and functional residential units. The project focuses on creating optimized spaces for long-term rentals, aiming to meet the growing demand for housing in this central area of Castellón.
Below are the key highlights of this project:
Value-Added Transformation
This is the second opportunity in the project, which involves the transformation of a commercial property into two residential units. This opportunity will consist of a 5-bedroom apartment with private bathrooms, which, according to our estimates, may generate value.
Acquisition Price Below Market Value
The acquisition price of this property implies a cost per square meter of less than €350/m². This cost is significantly below the market average in Castellón de la Plana, allowing investors to enter the project at a competitive price.
Estimated Financial Projections
The financial analysis of the project forecasts a 20% value appreciation and an Internal Rate of Return (IRR) above 10%, which will depend on the performance of the project and the market.
New-build Project Outcome
Upon completion of the renovation, this project will result in new-build housing at an estimated price that is competitive compared with current market prices. Additionally, the location and proximity to supermarkets and leisure centers make it a potential property for sale.
In conclusion, this project is based on the transformation of a commercial space into independent residential units, where we will optimize the spaces to add value. Moreover, the acquisition price, which is below market value, and an estimated IRR above 10% form the basis of its estimated profitability.
Technical specifications
City
Castellón de la Plana
Neighborhood
Castellon de la Plana
Year built
1998
Cadastral reference
3799207YK5239N00O4RJ
Property type
Coliving
Investment type
Residential
Square meters
145
No. of bedrooms
5
No. of bathrooms
5
Manager
Brickstarter 004
Developer
Brickstarter
Central and vibrant area
The property is located in an area with a wide variety of services and amenities
Proximity to points of interest
Proximity to supermarkets, public transport, schools and other essential amenities
Rental Demand
Located in an area with a relative shortage of rental offers
Documentation
Issues
Project cancelled and capital returned
Dear investors,
This project involved changing the use of a commercial unit into two homes. After months of efforts with the local Council, there have been problems and delays with the building permit, so we have decided to cancel it and return their investment to the participants.
On 28 September 2026 we credited each investor's balance with the amount of their stake in this property. You can see it in your panel, under "Movements", as "Cash return, unsuccessful project".
Throughout this period, up to and including August 2026, investors have received the 5% promotional return set for this phase.
We would have liked to see the operation through, but we preferred to close it in good time rather than sustain a project whose viability depended on an authorisation that never arrived. We sincerely thank you for your patience and trust.