Property
| Furnished: | YES |
|---|---|
| Ownership: | Fee Simple |
| Type: | Unknown |
| Bedrooms: | 8 BR |
| Bathrooms: | 7 |
| Lot Size: | 0.1 Acres |
Financials
Price:$1,725,000
Listing Courtesy of ETERNAL SUMMER REALTY
PRICE REDUCED ! Under Appraisal Value.
Description
PRICE REDUCED! Under Appraisal Value. Secure your future in one of Puerto Rico's most desirable neighborhoods. This Condado Greece-Style Multi Unit property is a profitable blend of location, charm, and a proven return on investment. Strategically located just a short walk from the beach and surrounded by a vibrant mix of restaurants, bars, shops, and supermarkets. Its prime location, combined with a quick 10-minute drive from the airport, makes it an ideal spot for high-demand short-term rentals like Airbnb and VRBO.
This expansive 3,467 sq ft colonial building sits on a generous 424.66 square meters lot and features seven distinct units, offering a versatile mix of accommodations.
Unit A: 3 bedrooms, 1 bathroom
Unit B: Efficiency apartment
Unit C: 3 bedrooms, 1 bathroom
Unit D: 1 bedroom, 1 bathroom
Unit E: 1 bedroom, 1 bathroom
Unit F: 1 bedroom, 1 bathroom
Unit G: Efficiency apartment
Unique features include private balconies on three units and a large terrace on another, providing sought-after outdoor space for guests. The property also includes five dedicated parking spaces—a significant advantage in this bustling area.
This property is more than just a beautiful building; it's a high-performing asset. It currently generates around $200,000 annually from a combination of long-term and short-term rentals. With the potential to transition fully to short-term rentals, the projected annual income is a minimum of $246,000. This makes it a perfect opportunity for both experienced investors and those looking to enter the lucrative Puerto Rico real estate market.
Amenities
- Balcony
- Cable - Available
- Ceiling Fans(S)
- Electricity Available
- Electricity Connected
- Lighting
- Living Room/Dining Room Combo
- Sidewalk
- Storage
- Water Available
- Water Connected
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.