Apartment Block Investment Opportunity Tenerife
High spec recently constructed apartment block close to airport and proposed new commercial port and local beaches. 12 well-proportioned apartments (to be sold as a block) each with garage space, store-room and sun roof space. Lift. Already 100% tenanted. Existing mortgage transferable by negotiation.
The apartments are currently rented at local rate (significantly below tourist rate) simply to service the mortgage. The potential returns on investment are attractive whether from upgraded rental income or apartment sales.
All units are complete with white goods.
The location of the building makes it attractive to different investment possibilities. For the commercial investor, perhaps with a view to participation in some way with the proposed new commercial port, it is ideally situated. It is attractive for the tourist market also. The local “niche” beaches are very good and accessible and the most popular beaches of Las Americas and Los Cristianos are approximately 15 minutes away.
Adjacent land could be available for extension, if desired, to add extra apartments, pool, gym etc, to suit particular requirements.
The asking price is €1.85 million, considerably below the original valuation.
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