Zorita 20 - Apartment 2

Today, we present a property that is similar to our first, Zorita 1, which was launched last week. This 83 square meter apartment, once the renovation of the missing room and kitchen is complete, will be divided into 3 bedrooms, 1 bathroom, and a kitchen that doubles as a living room. All of the rooms in this property will have natural light, which may increase its value and income potential as a coliving space.

As we mentioned before, this building has a good location, just a 4-minute walk from the Corte Inglés, in one of the most representative areas of the town. Therefore, it has all kinds of services nearby such as bars, restaurants, and entertainment areas, among others. However, the highlight 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, in our opinion, could support demand for housing from students and health personnel.

The property could become a source of income once the renovations are finished and the furnishings, appliances, and other equipment needed to make it livable and functional are purchased. However, this forecast is not guaranteed.

We remind you of the main features of the second property in this building:

1. Price: We acquired the property by buying the building as a whole, at a 28% discount on the market price in the area, according to our estimates. This could give us flexibility to sell in the future, although a quick sale or a higher price cannot be guaranteed.
2. Legal and registry status: According to our information, the property is free of charges or encumbrances. Likewise, as it is intended for coliving (mid-stay rentals), it should not in principle depend on tourist licenses for its operation.
3. Condition: Currently the apartment is in very good condition, although we will add a room and a kitchen. That way, when the remodeling is completed, it will have a high-end finish, with the expectation of renting it at a higher price.
4. Typology: it is a property with 3 rooms, suitable and ideal for coliving. In addition, it will have 1 bathroom and a kitchen that will serve as a common area. The property layout is rectangular and suitable.
5. Versatility: It is a property that can be used for people who wish to rent individual rooms as well as families. Similar properties are mainly used as vacation rentals during the summer, given the relative proximity 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: Very strategically located, just a few minutes’ walk from the main attractions of the city:

• Consum Supermarket: 2 minutes (180 meters).
• Dia Supermarket: 2 minutes (170 meters).
• El Corte Inglés Supermarket: 4 minutes (290 meters).
• Mercadona Supermarket: 4 minutes (300 meters).
• Train Station and AVE: 4 minutes (350 meters).
• Bullring of Castellón: 6 minutes (550 meters).
• Ribalta Park: 8 minutes (700 meters).
• Provincial Hospital of Castelló: 8 minutes (700 meters).
• Gaetà Huguet sports facilities: 17 minutes (1300 meters).
• Universitat Jaume I: 21 minutes (1600 meters).
• Salera Shopping Center (Primark, Pepco, JD Sports): 21 minutes (1600 meters).
• Estepark Shopping and Leisure Center: 25 minutes (2100 meters).