Multi-story building in Barcelona next to the sea, for the project of a hotel complex
A building in Barcelona in the seaside district of Vila Olímpica. The ten story building complex area of 3,512m2 brings in a rental income in the amount of 211,222 Euros per year (4.22% APR). All rooms, except the basement, are currently being leased for commercial purposes under contracts lasting between the years of 2017 - 2023. The expenses include paying utility bills in the amount of 5,640 Euro, insurance costs of 2,047 Euro, and real estate tax of 25,089 Euros, amounting to a combined total of 32,776 Euros. The new owner offered two choices of business ventures: long-term lease of the building as a residential unit or to carry out necessary reconstruction for use as a hotel. In the case of reconstruction, it would be necessary to demolish the last 2 floors.
The complex is in an excellent location for a business in Barcelona. In just a 15 minute walk from the house you will find yourself at the sea, the beach and the port. The building offers stunning views of the Mediterranean and the nearby lush green Park Ciutadella. A whole string of bars and seafood restaurants stretch along the beach promenade, a favorite place for tourists wishing to enjoy seafood under the hot Spanish sun.
