Other for sale

Other for sale

Torrevieja, Alicante
159,500
 
  • Other for sale
  • Other for sale
  • Other for sale
  • Other for sale
  • Other for sale
  • Other for sale
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Ref: AG19146284
Property marketed by Spain Property Shop S.L
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Super offer for investors or just for serious people! Large commercial local of more than 220 m² just 250 meters from the "Playa de Los Locos" in Torrevieja and very close to all services. The geometry and surface of this magnificent commercial ground floor allows it to be converted into 5 individual homes or tourist apartments. The estimated cost of conditioning and renovation work would be €750 - €800/m². After all the investments and expenses, the average cost of each home would be €75,000 - €80,000, with its sales value on the insured market being a minimum of €135,000. In the case of tourist rentals, the investment amortization period taking into account the average degree of occupancy would be up to 4 years. The best option: exploit it during the amortization period and then sell the apartments separately, profitability more than 200%. If you are interested in this investment offer, contact us and we will give you more information.

Property Features

  • 0 bedrooms
  • 0 bathrooms
  • 223m² Build size
  • Near bus route

Costing Breakdown

Standard form of payment
Reservation deposit
3,000€
Remainder of deposit to 10%
12,950€
Final Payment of 90% on completion
143,550€
 
Property Purchase Expenses
Property price
159,500€
Transfer tax 8%
12,760€
Notary fees (approx)
600€
Land registry fees (approx)
600€
Legal fees (approx)
1,500€

* Transfer tax is based on the sale value or the cadastral value whichever is the highest.

** The information above is displayed as a guide only.

Mortgage Calculator

Mortgage Amount:
159,500€
Deposit:
Interest Rate:
%
Period:
Mortgage Result

* The information above is provided by The MHI Group and displayed as a guide only. Individual circumstances could change the rate we offer for a mortgage. Please click the link below to get a personalised quote.

Spanish Property News & Updates by Spain Property Portal.com

In Spain, two primary taxes are associated with property purchases: IVA (Value Added Tax) and ITP (Property Transfer Tax). IVA, typically applicable to new constructions, stands at 10% of the property's value. On the other hand, ITP, levied on resale properties, varies between regions but generally ranges from 6% to 10%.

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Spain Property Portal is an online platform that has revolutionized the way people buy and sell real estate in Spain.

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In Spain, mortgages, known as "hipotecas," are common, and the market has seen significant growth and evolution.

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