El Palo, warehouse with patio, to convert into 3 apartments and a garage. Only 2 minutes from the beach
Spanish Real Estate Opportunity
This unique located warehouse is spacious and relatively light as it has a private patio and we can create glass windows at the front. Right in the center of authentic El Palo and only 2 minutes walk from the beach we think this can be the perfect place for both living and holiday rentals.
Ground floor:
huge open space with some pilars
1st Floor:
option to mezzanine for extra bedroom(s)
FOR SALE:
Asking price: 180.000 euro
Space: 200m2
Price per m2: 900 euro per m2
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6 months waiting for redevelopment building licence
4 months of renovation
3 months for sale
13 months turnover rate
Link idealista: not on Idealista, direct sale.
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PROS and CONS
PROS
Location is great (in the heart of El Palo, upcoming beach suburb of Malaga) together with an industrial look-and-feel with access to a private patio. We are able to enlarge windows to increase light. There is a parking garage at 15 meters from the building where is it possible to rent parking space.
Buyer of the large loft can also be interested in the two smaller apartments as a close by holiday rental business.
CONS
To convert a commercial building into a property, it takes 6 months for obtaining the building licence.
Additional cost for for plumming and electricity as it needs complete renovation.
Three apartments + Garage
