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Golf del Sur - Property Lettings Company inc 10 apartments.
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Ref: Finder 913T
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Area: South
Tenure: Freehold
Price: € 590,000
(approx £ 405,346)
Other:
Good opportunity, ideal for DIYers and people with inititiative and drive.
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An established ‘Property Lettings Company’ owning ten fully furnished apartments for a letting income and investment, comprising 1 x studio and 9 x 1 bedroom apartments.
The apartments are from 1998 and situated together on the first floor within a most attractive development comprising shops and businesses to the ground floor, a large open plaza and sea views from the large roof terrace above.
This is an up-market area with the internationally acclaimed golf course right nearby and a new sandy beach is to be made between Los Abrigos and San Blas which will be just one minute away.
Originally, the owners did holiday lets but found it too much like ‘hard work’, then moved on to the easier long lets producing a yearly income of around 60,000€, but now wish to retire completely after recent heart surgery.
Some of the apartments are now empty, allowing the new purchaser the opportunity to decide on short or long lets, residential living or commercial offices. 590,000€ divide by 10 equals only 59,000€, which is good value for a studio, let alone a 1 bedroom apartment.
COMMENT:
Perhaps ideal as a semi-retirement business with a guaranteed income from long term lets (and watch your bricks & mortar investment grow) or go into short term / holiday lets (more work but more income), expand into managing other peoples property, etc.
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