Zorita 20 - Apartment 3

We introduce this new apartment. The property that we present today is a completely open space, so it is necessary to carry out a complete renovation of the apartment, adding the rooms, kitchen, bathroom, and other finishes. The walls and the floors must also be considered so that the layout is similar to that of the apartments we launched before. We will add furniture, appliances, and other equipment to make the property habitable and functional to turn it into a fully functional apartment with 83 square meters.

As we mentioned before, this building is located 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 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 third property in this building:

1. Price: We acquired the property by purchasing the entire building, resulting in a 28% reduction, according to our estimates, compared to the market price in the surrounding area. 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 an empty open space, which allows us to use the materials of our choice to create a suitable layout for this property. Once the renovation is finished and the furniture is acquired, this dwelling will have high-end finishes, with the expectation of renting it at a higher price.
4. Typology: This property will have three bedrooms and is ideal for coliving. It will also have one bathroom and an open-plan kitchen. The design of the property is rectangular, which allows us to get a suitable layout of the apartment for its intended use.
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)
   • Mercadona Supermarket: 4 minutes (300 meters)
   • El Corte Inglés Supermarket: 4 minutes (290 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)