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Price: 840.000 €

Investment for sale

Tenerife, Adeje, Armeñime


Reference03020
Profitability6.9%
Last Update22-07-2020


Comments

Building for sale in the municipality of Adeje, city of Armeñime. Building for real estate investment in the south of Tenerife, with three floors above ground with a total of 11 apartments and one floor below ground for garage spaces. The houses are divided into: 8 apartments with 2 bedrooms and 3 apartments with  one bedroom. The building has the possibility of building one more house on the roof. It also has storage rooms and commercial premises.
 
Profitability of exploitation: Approximate calculation of the investment amount with taxes and reform included is made approximately at € 1,200,000. If we start from the monthly rent amount for the apartments of € 550 for 2 bedrooms and € 500 for one bedroom plus € 1000 for the premises per year we will have an income of € 82,800 / year before taxes and expenses. Which gives us a 6.9% annual return before taxes.
 
Resale profitability: The approximate sale price of 2-bedroom apartments is € 130,000 and 110,000 one-bedroom, local € 150,000. Which gives us a total of approximately € 1,580,000 and a maximum term of two years to sell everything. It would be a return of 32% in two years or 16% a year before taxes.


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