Zorita 20 - Apartment 1

The apartment we are presenting today has 80 square meters, which, once the renovation of the missing room is completed, will be laid out as 3 rooms and 1 bathroom, plus a kitchen that will also serve as a living-dining room. Given the layout of the rooms, all of them will have natural light, which may support the value of the property and the income derived from coliving.

It is located just a 4-minute walk from El Corte Inglés, in one of the most representative areas of the town. As a result, it has all kinds of services nearby, such as bars, restaurants and leisure areas, among others. However, the most notable feature of its location is its proximity to the Jaume I University and the Provincial Hospital of Castellón, which is less than a 10-minute walk from the property, which could support demand for rooms from students and healthcare staff.

Completing the renovation, together with the purchase of furniture, appliances and other equipment to make the home habitable and functional, could turn this property into a source of income, although this is not guaranteed.

The main features of this property are:

1. Price: The property was acquired at an average price per square meter more than 28% below, according to our estimates, the average value per square meter of apartments in the area. This could give us flexibility to sell in the future, although a quick sale or a higher sale price cannot be guaranteed
2. Registry and administrative status: According to our information, the property is free of charges or encumbrances. Likewise, as it will be used for coliving (mid-term stays), in principle it does not depend on tourist licenses for its operation.
3. Condition: The apartment is currently in very good condition, although we will add a room, along with a complete refresh. So that the renovation is complete and it is fully ready to be rented with a high-end finish
4. Type: this is a property with 3 rooms, suitable for coliving. It will also have 1 bathroom and a kitchen that will serve as a common area. The property, which is rectangular, has an appropriate layout.
5. Versatility: This property can be used both by people who want to rent individual rooms and by families. Similar properties are mainly used as vacation rentals during the summer, and are relatively close to the different beaches of Castellón 
6. Potential: According to our estimates, the characteristics of this property and its acquisition price could support 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:

• Consum supermarket: 2 minutes (180 meters)
• Dia supermarket: 2 minutes (170 meters)
• Mercadona supermarket: 4 minutes (300 meters)
• El Corte Inglés supermarket: 4 minutes (290 meters)
• Train and AVE Station: 4 minutes (350 meters)
• Plaza de Toros de Castellón: 6 minutes (550 meters)
• Ribalta Park: 8 minutes (700 meters)
• Hospital Provincial de Castelló: 8 minutes (700 meters)
• Gaetà Huguet sports facilities: 17 minutes (1,300 meters)
• Jaume I University: 21 minutes (1,600 meters)
• Salera Shopping Center (Primark, Pepco, JD Sports): 21 minutes (1,600 meters)
• Estepark Shopping Park and Leisure Center: 25 minutes (2,100 meters)