€875000 Fixed price

COP0004 Benidorm

  • 1Bedrooms
  • 1Bathrooms
  • 0Garage
  • 1000SqFt

Key Details

A block of 10 apartments in central Benidorm to be completely refurbished including the installation of a lift.

Completion of the project is due in October 2018. In our opinion the purchase of the whole block would allow the new owner to rent these apartments to the better end of the visitor market due to the location and the modern internal finish. The average occupancy for rental properties in this area is 85% annually and an achievable average price would be for the one bedroom apartments 70€ per night and for the 2 bed penthouses 90€ per night.

As the purchaser would own the whole block there would be no community charges and the IBI (council tax) would be in the region of 3.500€ per annum for the block. You would expect to pay a 15% management charge for the maintaining, cleaning and key holding of the property.

We would suggest setting up a Spanish company to purchase and run the business and it would be necessary to obtain tourist licences for the apartments. Taking all that into consideration a conservative annual rental return should be 17%

Calle Maraval

Ground floor total build size: 200m2

4 x 1 bed apartments 42 m2 per apartment (average) and 32 m2 communal areas

First floor equal to ground

Top floor 2 atico apartments 45 m2 per apartment, 40 m2 terraces and 30 m2 communal zones.

Located on the corner of Calle Maraval and Calle de Los Tulipanes 220 metres from Poniente Beach and Parque de Elche. 400 metres from Old town.

This area has a high rental value as it is perfect for a combination of visitors.

Property Description *

A block of 10 apartments in central Benidorm to be completely refurbished including the installation of a lift.

Completion of the project is due in October 2018. In our opinion the purchase of the whole block would allow the new owner to rent these apartments to the better end of the visitor market due to the location and the modern internal finish. The average occupancy for rental properties in this area is 85% annually and an achievable average price would be for the one bedroom apartments 70€ per night and for the 2 bed penthouses 90€ per night.

As the purchaser would own the whole block there would be no community charges and the IBI (council tax) would be in the region of 3.500€ per annum for the block. You would expect to pay a 15% management charge for the maintaining, cleaning and key holding of the property.

We would suggest setting up a Spanish company to purchase and run the business and it would be necessary to obtain tourist licences for the apartments. Taking all that into consideration a conservative annual rental return should be 17%

Calle Maraval

Ground floor total build size: 200m2

4 x 1 bed apartments 42 m2 per apartment (average) and 32 m2 communal areas

First floor equal to ground

Top floor 2 atico apartments 45 m2 per apartment, 40 m2 terraces and 30 m2 communal zones.

Located on the corner of Calle Maraval and Calle de Los Tulipanes 220 metres from Poniente Beach and Parque de Elche. 400 metres from Old town.

This area has a high rental value as it is perfect for a combination of visitors.

Amenities

  • Balcony/terrace

Disclaimer - Citrus Overseas Properties

Citrus Overseas Properties, for themselves, and also for the owner of the property, whose agent Citrus is and, also, any third party agent, give notice that:

1.These particulars do not constitute any part of an offer or a contract.

2.All statements contained in these particulars are made without responsibility of Citrus Overseas Properties.

3.None of the statements contained in these particulars is to be relied upon as a statement or representation of fact.

4.Whilst every attempt has been made to ensure the accuracy of the details contained herein, any measurement of rooms, doors, windows or any other items are approximate and no responsibility is taken for any error, omission or mis-statement.  These details are for illustrative purposes only and should be used as such by any prospective purchaser or interested party.  The services, systems and appliances shown or detailed have not been tested by us and no guarantee as to their operability or efficiency can be given.

5.Any intending purchaser or interested client must satisfy him or herself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.

6.The owner, nor Citrus Overseas Properties nor any third party agent do not make or give any representation or warranty whatever in relation to this property.

7.Prices quoted are in euros and, of course, exchange rates can, and, do, fluctuate.  Prices were correct at the time of posting and no responsibility is taken for any changes in the prices quoted compared to actual prices at time of any enquiry or offer being made.

8.Any reference to location is approximate and no responsibility is taken by Citrus Overseas Properties, the owner or any third party agent for any inaccuracy in such information supplied.