Description
This property offers an impressive variety of possibilities, depending on the investor's focus, which may be short, medium, or long term. Currently, the property is legally divided into three units: a studio and two apartments, which generate approximately €90,000 in annual rental income.
The factor that most influences the regularization of a real estate asset's value over time is its location. This property is located on one of Madrid's main streets, Calle Alcala, at its intersection with Calle Goya and Conde de Penalver, making it an unbeatable commercial hub. Added to this is its proximity to the leisure area of Calle Jorge Juan, the Retiro Park, and the Puerta de Alcala, all less than a 10-minute walk away.
There is also the possibility of renovating the property, converting it into a single space with three or four en-suite bedrooms, resulting in a high-quality home.
Another interesting proposal for an investor could be to renovate the property into a three-bedroom apartment and keep the apartment at the rear of the property for rental purposes, which would generate an annual income of around €30,000.
- Community fees: €198/month.
- Property tax (IBI): €1,489.93.
