We offer investors an opportunity to purchase a residential building that houses tourist apartments, located in the center of Barcelona in the cultural and historical district of Old Town (Ciutat Vella). The exclusive tourist area of Las Ramblas, stretching from the central square of Plaça Catalunya to the port, is the ideal place to own property for use as vacation apartment rentals. The proximity of cultural attractions, major shopping areas and a wide choice of restaurants and entertainment options provides for a steady flow of visitors all year round. The area is also home to the best hotels, where those who desire to be in the center of the action and the unique atmosphere of the Mediterranean city prefer to stay.
The building has an area of 1,820m2 consisting of 4 floors with 6 vacant commercial premises and 11 apartments. Four of the apartments are vacant, three apartments are under long-term leases and four apartments are under short-term rental agreements. The building for sale is in excellent condition with a margin of 115,068€ per year, which is 3% per annum.