Valencia, Carrer del Teide
Valencian Community
Description
On behalf of our client, Spring Valencia exclusively offers for sale the property located on Carrer del Teide in Valencia.
The flat consists of approximately 81 m², divided into 4 spacious rooms, a bathroom and a common living kitchen. The flat is spacious and cleverly laid out.
It is located a stone's throw from Valencia's Mediterranean Sea. This neighbourhood, Malvarossa, is a great place for students, given its proximity to Valencia's universities and short distance to the beach and nightlife. The flat is also on a side street of the district's main road, Avenida de Malvarossa, providing all the amenities for comfortable living.
The flat needs to be renovated and optimised for maximum rental return. The total investment in furniture and renovation is around €20,000.
The rooms are expected to be rented out to 4 young professionals or students for a total rent of €24,000 per year.
Asking price: €182,500.
Gross yield: 10.38%
Net yield: 7.15%
Costs:
Renovation: EUR 14,000,-
Transfer tax: 10%
Agency fee: 3%
VVE contribution = EUR 480,- per year
IBI-tax = EUR 250,-
Income tax = 19% per year
Management = 8% of rental income
Property information
Country
Spain
Property Type
Room rental property
Last update
4/29/2024
Plot area
81 m2
Surface area
70 m2
Construction year
1960
Contract information
Not Rented
Rental price
€ 24.000
List price
€ 182.500
Factor
7.60
Ownership status
Full ownership
Location
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