Apartamento Pintor Soler Blasco

Following the success of the first opportunity in this project, we are pleased to announce the second opportunity in the Pintor Soler Blasco project in Castellón de la Plana. This will be a 5-bedroom apartment, designed for couples, making it one of the most attractive offerings in the current market.

Just like the previous opportunity, the acquisition price remains one of the most appealing aspects of the project, as we have managed to negotiate a price well below the market average, leaving ample room for future appreciation. Additionally, the studies we’ve conducted reinforce our confidence that the potential for rental income and eventual sale will be highly competitive.

This is a project where we are adding tremendous value to the property through:

1. The purchase (this is a bank-owned property we acquired at a highly economical price), 
2. The change of use from commercial to residential, 
3. The renovation to adapt it to current market demands, and 
4. The horizontal division of the property.
   
   Quite a lot!

Why is this a unique opportunity?

1. Functional apartment with highly sought-after layout: This opportunity will feature a 5-bedroom apartment, each room equipped with a private bathroom, a key feature that adds both comfort and privacy, two of the most valued aspects by tenants. We believe that offering this type of accommodation in this apartment makes it one of the most attractive options in today’s market, especially in central areas ideal for young couples seeking functional and comfortable housing.
2. Significant added value: The real value of this project lies in the transformation, change of use, and horizontal division. We will convert the commercial space into a residential unit, as mentioned previously on our blog, and subdivide the property (we are currently seeking to fund the second unit). This transformation will give us a 5-bedroom independent apartment, each with its private bathroom. This renovation and conversion significantly increase the property’s value and open up more flexible options for rental or resale.

3. Purchase Price: We managed to acquire the property for only €50,565, a value well below the market average for commercial spaces in Castellón. This negotiation allowed us to secure a price below €350/m², representing a discount of over 60% compared to the average price of €938/m² for this type of property (Idealista.com). This low cost is particularly advantageous for a 145 m² unit located in the city center.

4. Competitive Final Price: Acquiring a commercial space at such an attractive price gives us the flexibility to add substantial value through the renovation and transformation of the property. After this process, we will obtain a new-build residence with a resulting sales price of €1,255/m², 13% below the current average of €1,442/m² (Idealista.com) for properties in Castellón de la Plana. This is a highly competitive price and one of the lowest euro-per-square-meter rates in Castellón. 

Unbeatable Location: Central Castellón de la Plana

Location is always key in real estate, and this project is no exception. Situated in a central area of Castellón de la Plana, future tenants and buyers will have access to all the services and amenities the city has to offer. From public transport to shops, restaurants, and leisure areas, the location ensures high demand and long-term value appreciation.

New-Build Project with High Profitability

Following the renovation of the property, it will become a new-build residence, adding a significant value compared to the second-hand properties currently available on the market. This will translate into high profitability both in the short and long term, one of the main reasons why this project is so attractive for investors seeking to maximize their returns.

For us, this second opportunity, just like the previous one, represents an excellent chance that we’ve secured after an extensive process of research and analysis to deliver a profitable investment for our investors.