Location: Puerto Banús, Spain
An investors dream!
4 bedroom, 3 bathroom (2 en-suite) ground floor apartment in Puerto Banus leading on to the communal pool and gardens. Located in a secure area directly behind La Sala by the Sea, it is just a few minutes walk into the marina or to the casino.The area is sourrounded by golf courses making the property ideal for holidaymakers in the summer and golfers over the winter months.
3 of the bedrooms are doubles and the 4th is a single which would also be ideal as a storage area (perfect for suitcases, lilos, golf clubs, etc...) or workspace; and since the penademic a home office is proving as important as another bedroom. Alternatively, it could easily accomodate bunk beds and wardrobes. .
The community is gated with parking within the community for owners. Since the photos were taken, the community has been repainted and this makes a massive difference to the curb appeal.
The apartment does need a total refurbishment. There is a project in place for a complete refurbishment with the builder waiting to start; the property has been cleared ready for work to start. The complete refurbishment (including new open-plan kitchen and new bathrooms) is around 80,000€. Approx. 40,000€ should also be allowed purchase taxes, legal and registry fees. Once refurbished, the property should be worth around 650,000€... possibly a little more!
There is a retrospective first occupation licence in place so a touristic licence can be easily obtained. Due to the location, the property has massive potential and will offer great returns at this asking price; commading around 500€ a night in the summer months. A rental analysis we had performed on the property suggests around 100,000€ a year gross income at 50% occupancy and 70,000€ net of all rental management costs; so well over 10% yield on investment plus the growth in capital.
Ground Floor Apartment, Puerto Banús, Costa del Sol.
4 Bedrooms, 3 Bathrooms, Built 99 m², Terrace 29 m².
Setting : Beachside, Close To Golf, Close To Port, Close To Shops, Close To Sea, Close To Town, Close To Marina, Urbanisation.
Orientation : South.
Condition : Fair, Renovation Required, Restoration Required.
Pool : Communal.
Climate Control : Air Conditioning, Hot A/C, Cold A/C, Fireplace, U/F/H Bathrooms.
Views : Garden, Pool.
Features : Covered Terrace, Fitted Wardrobes, Near Transport, Private Terrace, ADSL / WIFI, Ensuite Bathroom, Marble Flooring, Double Glazing.
Furniture : Optional.
Kitchen : Fully Fitted.
Garden : Communal.
Security : Gated Complex.
Parking : Communal.
Utilities : Electricity, Drinkable Water, Telephone.
Category : Bargain, Holiday Homes, Investment, Resale.
