Description
Located in the serene village of Massarrojos, the property at Placa de El Soñador 5 presents a unique opportunity for redevelopment into a co-living space comprising 16 individual studios. The building, with a total area of 503 square meters, offers a spacious layout ideal for creating a modern, communal living environment. Notably, the building permit for this redevelopment has already been applied for and is expected to be granted this summer.
Development Details:
- Total Area: 503 sqm
- Development Costs: Estimated at €1,000 - €1,100 per sqm
- Projected Annual Rental Income: €147.600
- Building Permit: Expected in August, included in the purchase
- Amenities: kitchen, living room, dining room, terrace, swimming pool
- Studios: 10 studios, 4 suites,.2 premium suites. Total: 16
The estimated development costs range between €503,000 and €553,300, depending on the specifications of the project. Once completed, the property is anticipated to generate an annual rental income of approximately €147.600.
Location Overview: Massarrojos & Moncada, Valencia
Massarrojos is a picturesque and peaceful suburb of Valencia, known for its traditional Spanish village charm and tranquil atmosphere. The area is characterized by its quiet streets, historical buildings, and a strong sense of community, making it an ideal location for those seeking a serene residential environment away from the city’s busy center.
The village is well-connected to Valencia by public transport with the metro (5 minutes walking), allowing residents easy access to the city’s diverse amenities, including shopping, dining, and cultural attractions. Placa de El Soñador 5’s location within Massarrojos provides a perfect blend of peaceful living with the convenience of being close to urban life.
The town of Moncada, which is home to CEU Cardenal Herrera University (8 minutes cycling), a prestigious private institution that attracts students from across Spain and internationally. The proximity of this property to the university makes it particularly suitable for redevelopment into co-living spaces, appealing to students, faculty members, and young professionals who prefer to live close to the campus.
Moncada itself is a lively town with a welcoming atmosphere, offering a variety of local amenities such as shops, cafes, and recreational spaces. The area is well-served by public transport, providing easy connections to both the university and Valencia’s city center.
Overall, the property at Placa de El Soñador 5 is well-positioned for a redevelopment project that meets the growing demand for high-quality shared living spaces.
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Property information
Property Type
Property development
Contract information
Not Rented
Ownership status
Full ownership