We really wanted to return to one of our favourite cities, and we are delighted to do so at the hands of this excellent penthouse, which will undoubtedly delight our guests.

The real estate market is totally fired and it is increasingly difficult to find good opportunities and more at this price. To do this, we had to make an offer, not for the attic but also for the rest of the building, and thanks to this we have managed to lower the price of the operation in terms of cost per square meter.

The fact of acquiring the building, which we will publish in its entirety exclusively on Brickstarter, will bring us other advantages in addition to reducing the total cost of the operation, such as avoiding regulatory problems with vacation licenses, and above all avoiding problems with neighbours.

Likewise, we consider that it will be easier to rent, since having several units in the same building we will be able to receive larger groups who will also be attracted by the attractiveness of the terrace. This is what we do in other opportunities such as Bolsería, which allows us to establish an occupancy rate escalation that allows us to maximize income.

The property in question, the attic, has a series of characteristics that make it very attractive, not only for the tourist market, but also for the medium and long-term market.

It has 3 double bedrooms, all with their private bathroom, American kitchen with large living room and a large terrace that will undoubtedly be the photo of the apartment. It is a large property (140 square meters) and very well distributed in 3 heights.

It is a very well located property, one step away from the historic center, close to Santa Bárbara Castle, Postiguet Beach and the Central Market. Perfect for both the vacation and the medium and long stay.

Video of the apartment.

Project summary

We are facing an excellent property of 128 square meters, with 3 bedrooms and 3 bathrooms in suite, an American kitchen and a splendid terrace.

The main reasons why we think it is an excellent investment are:

1. Price:  € 977 / m2 very cheap, taking into account that the price per square meter of apartments to be renovated is already 1259 euros.

2. Tourist License: Despite being outside the historic center, we can obtain the tourist license since we will control the entire building. This will greatly revalue the property, since, except for these exceptions, you can only obtain a vacation license in the historic center where the price per square meter is 2529 euros, as we can see here. This fact will allow us to revalue the property considerably.

3. Status: The property is practically new since it was built in 2015. In fact, the apartment on the first floor is original and you have to put the kitchen in it.

4. Versatility: We find a type of properties in high demand for both the holiday and short-stay markets, since they are spacious properties, with one bathroom per room, something in high demand also for the Coliving typology.

5. Typology: The penthouses with terraces are the most demanded properties in the vacation, and more for large groups, since they can meet and thus enjoy the magnificent climate of Alicante.

6. Potential: The entire building has a lot of potentials. With 70 meters of floor and 3 heights, the building can be divided at any time into 3 individual apartments. In this case, the apartment would cost 70 thousand euros per unit. (The average price in that area for similar apartments is as you can see here.

7. Location: the location of the property is excellent, very close to the historic center and the main points of interest in the city of Alicante. It is literally just 7 minutes walk from the historic center according to google maps. The main walking distances, according to google maps, are:

   Central Market: 5 minutes walk. Historic Center: 8 minutes walk. San Juan neighbourhood: 10 minutes walk. Town Hall Square: 15 minutes on foot. Postiguet Beach: 19 minutes walk

Additionally, according to the urban plan, an additional height could be built, with which we could still obtain a new apartment. Although we are not going to develop it, this option gives even more value to the property.

Operation summary

Economic forecast

The data shown in this section is a forecast for one year after the purchase of the property:

Dividends

Result of exploitation

Result of the exercise

Patrimonial information

Occupation