A characterful property with rental income and significant potential for value creation

Located on Calle Baja in the heart of El Carmen, this 89 m² apartment offers an attractive combination of established rental income, historic character and significant potential for future improvement.

The apartment is located on the second floor of a building dating from 1900, with only one apartment per floor and an active community of owners. The property currently comprises four bedrooms, with three bedrooms benefiting from their own private balcony.

Currently operated as a student rental, the apartment generates €2,250 per month through seasonal contracts. Utilities are included up to €200 per month in total, with a €50 allowance per room. The current rental contracts are expected to run until 31 July 2027, providing the new owner with an established income stream.

Beyond its current rental performance, the property offers considerable value-add potential. Installing air conditioning in all four bedrooms, renovating the kitchen and bathroom, and potentially adding a second bathroom could significantly improve the apartment's rental appeal.

The existing layout also offers the possibility of a completely different future. By removing the wall of the second bedroom, the apartment could be transformed back into a spacious home with a dedicated living room. The kitchen could then be opened up to create a modern open-plan kitchen and living area.

Additional features include a storage unit on the floor above and access to a large communal rooftop terrace, offering beautiful views over the historic streets and rooftops of El Carmen.

With its central location, multiple balconies, existing rental income and flexible layout, this property offers several possible strategies: continue the existing student rental, renovate and optimise the investment, or transform the apartment into a private residence.

Investment Highlights:

• 89 m²
• 4 bedrooms
• 3 private balconies
• €2,250/month current rental income
• Seasonal student rental contracts until July 2027
• Building dating from 1900
• Second floor, no elevator
• One apartment per floor
• Active community of owners
• Storage unit
• Large communal rooftop terrace
• Historic El Carmen location
• Significant renovation and value-add potential

A property with income today and the flexibility to create significantly more value tomorrow.