Price: Offers around 1,000,000 euros
Marvellous opportunity to purchase a building with tremendous rental income potential in the heart of Arroyo de la Miel, Benalmadena, Costa del Sol, Spain
The building is situated in the centre of Arroyo de la Miel on the corner of Calle Felix Solesio and Plaza de España, just off Calle Blas Infante in the pedestrianised area of the town centre. It is just two to three minutes walk from the rail station, taxi rank and bus stops.
The building consists of
- Ground floor
- Two retail units each of 50m2
- Entrance hallway to apartments upstairs
- First Floor
- Two one bedroom apartments each of 50m2
- Second Floor
- One two-bedroom apartment of 90m2
The side wall of the building faces onto Plaza de España and the current owners have submitted a planning application to have windows facing onto the square.
The retail unit adjoining the square could be converted into a bar/restaurant with a sunny terrace area in the square (which gets sunshine all year round).
The property has fantastic rental income potential because of its location. At current prices each of the one-bedroom apartments would bring in a minimum of 500 euros per month in rent. The two bedroom apartment should fetch at least 700 euros per month.
Each of the retail units could fetch up to 1100 euros per month.
Using a more conservative rental income from the retail units of only 700 euros per month each, the potential total annual rental income from the building is 37,200 euros.
The asking price for this building is 1,000,000 euros. It is very rare to find a building with such potential in a prime area.
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