Buy-to-rent Property | CATARROJA
Franco had the opportunity to invest in an apartment located on the 3rd floor of a building without an elevator. The property, which has a surface area of 72 m², is distributed into 2 bedrooms (one double and one single), a bathroom, a spacious kitchen, a living-dining room, and a front balcony. The apartment was in good condition but needed cleaning and updating. The walls and doors were repainted, the bathroom was renovated, and a refresh was done throughout. Many of the furniture pieces were reused, and the space was enhanced with light fixtures for the final touch.
Total investment: €69.150
Monthly rent: €750
Net Return: 12%
Annual net income: €7.260
Long-Term Rental Investment in Catarroja, Valencia – January 2024
We gave the property a facelift without spending much, and within one month of acquisition, we secured tenants.
Purchase Details:
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Surface Area: 72m²
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Features: 2 bedrooms, 1 bathroom, balcony. Exterior unit, 3rd floor without elevator. Built in 1967.
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Purchase Price: €55,000 + taxes (approximately 13%)
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Real Estate Commission: €3,000
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Renovation + Furniture: €4,000
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Financing: 80% mortgage
Rental and Profitability:
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Monthly Income: €750 (Gross Annual €9,000)
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Annual Expenses: €1,740 (IBI, insurance, alarm, community fees) + (variable taxes based on IRPF, minimum 19%)
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