L’Eixample, Valencia, Spain
Strategy: Added Value, Medium-Term Rental
In Valencia's esteemed L'Eixample district, a strategic investment opportunity emerges with the acquisition and renovation of a property aimed at creating 14 premium apartments. This venture capitalizes on the district's architectural elegance and urban appeal, infusing modern amenities into classic designs to enhance tenant appeal and market value. With a favorable acquisition cost, the project is poised for significant value addition, promising to elevate the living experience and attract discerning residents. This renovation endeavor not only aligns with L'Eixample's sophisticated charm but also offers investors a pathway to substantial returns through increased rental income and capital appreciation in Valencia's dynamic real estate landscape.
Investment Highlights
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EU Strategic Location
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Top Tourist Destination (#1 in 2023)
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Prime L'Eixample Location
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Upscale Renovation Project
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Strategic Value Addition
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Increased Rental Income Potential
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14 Modern Apartments
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Sustainable Community Development
Offering Snapshot
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Land Area
2,752.00 SF
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Total Square Footage
16,453.00 SF
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Rentable Area
14,856.40 SF
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Year Built
1970
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Asking price
$.4’054.160.00
(incl. RENO)
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Property Breakdown
• 14 Apartments
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Units area
• L1: 405 SF (5 Units)
• L2: 990 SF (9 Units)
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Zoning
Residential (R)
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LTV
60%
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Cap Rate
7.00%
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Return - IRR
14.1%
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Gross Rental Income
$ 206,644.06
Location Highlights
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#1
Best place to Move by Forbes
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A
Country Risk
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3.36%
10Y Interest rate
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8%
Spanish GDP driven by tourism
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Lowest EU Cost of Living Index
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€112 Billion
Valencia GDP, +9.3 in 2021
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5.5%
RE Residential Rental Growth Rate in 2022
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+25%
Avg. Return compared with Barcelona or Madrid
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+8.5%
Residential Real Estate Prices in 2022
“In Valencia's L'Eixample, a prime renovation project offers 14 modern apartments, promising enhanced value and substantial returns in a desirable urban setting.”
The financial framework for this L'Eixample Valencia renovation project is designed with a meticulous approach, incorporating a conservative vacancy rate of 25% to provide a realistic assessment of potential occupancy. Despite this cautious assumption, the investment is projected to yield an IRR of 14.01%, underscoring the strong return potential from the medium-term rental market. The asking price encompasses the full scope of property transformation and associated fees, ensuring a seamless transition to a portfolio of 14 renovated apartments, each ranging from 860 to 1183 square feet, tailored for medium-term rental purposes.
This strategic investment proposition, inclusive of all renovation costs, leverages a 60% LTV ratio to balance risk and reward effectively. With a projected gross rental income of approximately $206K, the project illustrates a well-considered balance between investment outlay and income potential. The transformation of the property into medium-term rental units in a sought-after district like L'Eixample not only enhances the building's market appeal but also positions it as a compelling investment opportunity. The careful financial modeling and the promise of revitalized living spaces in a prime urban location make this venture an attractive prospect for investors keen on tapping into Valencia's thriving medium-term rental market.
For interested investors seeking a deeper understanding of this opportunity, further information will be provided during subsequent discussions. This will include a comprehensive market analysis, detailed risk mitigation strategies, and an in-depth review of the financials.
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