Spain
Costa Brava
Apart-hotel in Pineda de Mar
An apartment hotel on the third line from the beach
in the popular tourist town of Pineda de Mar.
Year of construction of the building: 1991
The total area of the building is 2113,17m2
48 apartments 35-45m2: 3-room, 2-room, studio;
customer reception desk;
2 elevators;
parking for 23 cars;
a small garden.
All apartments have standard finishes.
There is a tourist license for daily rent.
Each apartment is registered as a separate living area in the Real Estate Cadastre, which allows each apartment to be sold as a separate dwelling in the future.
Currently, real estate and business are owned by a Joint-stock company (1990). There is a valid contract with the hotel operator for the rental of apartments, which can be canceled within 6 months.
Price: 2,400,000€ + 5% agency commission
There is an opportunity to buy an adjacent plot of 300m2 for the construction of a swimming pool or other hotel infrastructure. The approximate price of the plot is 80,000€
Investment attractiveness of the object:
1. purchase of the object for the purpose of subsequent sale separately of each apartment and parking spaces with a net profit of 25-30% of the sale of apartments and 10.54% of the sale of parking spaces
(within 1 year);
2. long-term rental of apartments and parking spaces
(gross income of 10.22% /year);
3. daily rental (tourist rental) with gross income of 15.74%/year
calculations of daily rent are made taking into account the rental only during the 3 summer months, although in Pineda de Mar the rental season is longer and begins well before June 1.
