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124 Condado Street , #101

SAN JUAN, PR 00907
  • $350,000
  • STATUS: Active
  • ON SITE: 22 Days
  • MLS #: PR9107282
UPDATED: 99 min ago
$350,000
  • 3
    BEDS
  • N/A
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 965
    SQFT
  • $363
    $/SQFT
Neighborhood:
Type:
Condo
Built:
1960
County:
Area:

School Ratings & Info

Description

Condominium San Gabriel AIRBNB. THIS IS THE BEST DEAL IN CONDADO. 124 Condado Street corner of Ribot Street, San Juan, PR 00907. This apartment is located five blocks from Ashford Avenue and the beach. It is an excellent opportunity to own an AIRBNB close to the best hotels and beaches of San Juan. Several AIRBNBs are starting to pop up around this area, which are much more affordable for investors and offer much better ROI. This apartment rents on AIRBNB for $250 to $350 per night. If we calculate ROI using a conservative occupancy rate of 50%, you have a monthly gross income of $3,750.00. Expenses are HOA $180.27, Taxes $90.25 per month, and Insurance $100 per month. Utilities: electric $250.00 per month, water $35, internet $90. Other expenses include maintenance AC and another $100 per month. Total expenses: $845.52 per month. You have a NOI of $2,904.48 per month. This reflects an RETURN ON INVESTMENT ROI OF 10%. This is a conservative estimation at a 50% occupancy (usually 66% or more), a rate of $250 (the average three bedrooms and two bathrooms in this area is $350.00). This apartment presents a great investment opportunity for savvy investors looking for value. A similar Airbnb 5 to 6 blocks away will cost no less than $650,000-$700,000. This whole area is experiencing extreme and fast gentrification, with Airbnb sprawling everywhere. Take advantage of this great ROI. DON'T MISS THIS OPPORTUNITY. You are five minutes walking distance to Ashford Avenue, the beach, and the hotels. The apartment has been rented solidly since we started renting two years ago. The owners decided to sell because they have a more extensive property and have decided to sell this one. That's a good deal for renters and owners, and we believe those rates will increase dramatically shortly once the building is renovated on the outside. HOA is gearing up to acquire a power generator, which would significantly improve the structure. This apartment is a perfect investment to generate short-term rental income. Fantastic three bedrooms, two full bathrooms, a spacious kitchen with a washer and dryer, a dining and living room area, and one assigned parking space. The apartment has 965 sqft of living space and is move-in ready, turn-key AIRBNB prepared from day one. It is located only five blocks from Condado Beach, hotels, and casinos, making this a super convenient location for business and tourist travelers. Walmart is 5-10 minutes' walk from the apartment near Miramar and has many restaurants and banks, making this an ideal location for short-term rentals. Each bedroom has its own AC split unit inverter and another AC inverter in the living room. The apartment is entirely AC and move-in-ready. It could be sold with or without furniture. It has a king-size bed in the master bedroom, queen-size beds in bedroom 2, and a full-size bed in the third bedrooma dining table with four chairs and a sectional in the living room. The kitchen has a refrigerator, stove, microwave, washer, and dryer. All appliances are included in the sale price, but furniture is not included. Income-producing property for Airbnb rentals. Tax incentives for Act 20/22 investors might apply. The asking price is $350,000, not subject to appraisalprequalified buyers who understand the STR business and have the cash to invest.

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© 2024 My Florida Regional MLS DBA Stellar MLS. All rights reserved. All listings displayed pursuant to IDX. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Data last updated 2024-07-22T21:47:34.56.
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124 Condado Street , #101 SAN JUAN, PR 00907

  • Price: $350,000
  • Status: Active
  • On Site: 22 Days
  • Updated: 99 min ago
  • MLS #: PR9107282
3
Beds
2
Baths
0
½ Baths
N/A
Acres
965
SQFT
$363
$/SQFT
1960
Built
Neighborhood:
Condado
County:
San Juan
Area:
San Juan
Property Description
Condominium San Gabriel AIRBNB. THIS IS THE BEST DEAL IN CONDADO. 124 Condado Street corner of Ribot Street, San Juan, PR 00907. This apartment is located five blocks from Ashford Avenue and the beach. It is an excellent opportunity to own an AIRBNB close to the best hotels and beaches of San Juan. Several AIRBNBs are starting to pop up around this area, which are much more affordable for investors and offer much better ROI. This apartment rents on AIRBNB for $250 to $350 per night. If we calculate ROI using a conservative occupancy rate of 50%, you have a monthly gross income of $3,750.00. Expenses are HOA $180.27, Taxes $90.25 per month, and Insurance $100 per month. Utilities: electric $250.00 per month, water $35, internet $90. Other expenses include maintenance AC and another $100 per month. Total expenses: $845.52 per month. You have a NOI of $2,904.48 per month. This reflects an RETURN ON INVESTMENT ROI OF 10%. This is a conservative estimation at a 50% occupancy (usually 66% or more), a rate of $250 (the average three bedrooms and two bathrooms in this area is $350.00). This apartment presents a great investment opportunity for savvy investors looking for value. A similar Airbnb 5 to 6 blocks away will cost no less than $650,000-$700,000. This whole area is experiencing extreme and fast gentrification, with Airbnb sprawling everywhere. Take advantage of this great ROI. DON'T MISS THIS OPPORTUNITY. You are five minutes walking distance to Ashford Avenue, the beach, and the hotels. The apartment has been rented solidly since we started renting two years ago. The owners decided to sell because they have a more extensive property and have decided to sell this one. That's a good deal for renters and owners, and we believe those rates will increase dramatically shortly once the building is renovated on the outside. HOA is gearing up to acquire a power generator, which would significantly improve the structure. This apartment is a perfect investment to generate short-term rental income. Fantastic three bedrooms, two full bathrooms, a spacious kitchen with a washer and dryer, a dining and living room area, and one assigned parking space. The apartment has 965 sqft of living space and is move-in ready, turn-key AIRBNB prepared from day one. It is located only five blocks from Condado Beach, hotels, and casinos, making this a super convenient location for business and tourist travelers. Walmart is 5-10 minutes' walk from the apartment near Miramar and has many restaurants and banks, making this an ideal location for short-term rentals. Each bedroom has its own AC split unit inverter and another AC inverter in the living room. The apartment is entirely AC and move-in-ready. It could be sold with or without furniture. It has a king-size bed in the master bedroom, queen-size beds in bedroom 2, and a full-size bed in the third bedrooma dining table with four chairs and a sectional in the living room. The kitchen has a refrigerator, stove, microwave, washer, and dryer. All appliances are included in the sale price, but furniture is not included. Income-producing property for Airbnb rentals. Tax incentives for Act 20/22 investors might apply. The asking price is $350,000, not subject to appraisalprequalified buyers who understand the STR business and have the cash to invest.
Exterior Features

Additional Water Information Condado Beach is 5 blocks away walking distance. Carport Spaces 1 Carport Yn Yes Construction Materials Concrete Covered Spaces 1 Direction Faces Southeast Exterior Features Balcony Foundation Details Slab Pool Private Yn No Road Surface Type Asphalt Roof Concrete Water Access Yn No Water Body Name Condado Beach Water Extras Yn No Water View Yn No Waterfront Feet Total 0 Waterfront Yn No

Interior Features

Appliances CooktopElectric Water HeaterMicrowaveRefrigeratorWasher Building Area Total 965 Building Elevator Yn Yes Cooling Mini-Split Unit(s) Cooling YN Yes Fireplace Yn No Flooring Ceramic Tile Furnished Negotiable Heating None Heating YN No Interior Features Ceiling Fan(s)Living Room/Dining Room ComboPrimary Bedroom Main FloorWindow Treatments Laundry Features Inside Levels One Sewer Public Sewer Stories Total 8 Water Source Public Window Features BlindsDrapes

Property Features

Additional Lease Restrictions The condominium can be rented short term or long term. AIRBNB allowed and the property is generating attractive cash flow. Approval Process Please make sure you understand the short-term rental potential and have available cash to buy this property. Association Approval Required Yn No Association Fee 180 Association Fee Frequency Monthly Association Fee Includes Maintenance StructureManagerSewer Association Fee Monthly Amount 180 Association Fee Requirement Required Association Montly Maint Amt Add To Hoa 0 Association Yn Yes Builder Name Condominio San Gabriel Building Name Number CONDOMINIO SAN GABRIEL Community Features Association Recreation - Lease Condo Fees 0 Condo Land Included Yn No Days Notice To Tenant If Not Ren 15 days Down Payment Resource No Flood Zone Code 79 Floor Number 2 Garage Yn No Lease Considered YN Yes Lease Restrictions YN No Listing Terms CashConventionalFHA Minimum Lease 1-7 Days Month To Month Or Weekly Yn No New Construction Yn No Ownership Condominium Pet Restrictions Pet allowed Pets Allowed Cats OKDogs OK Property Condition Completed Property Sub Type Condominium Special Listing Conditions None Tax Annual Amount 1083 Total Annual Fees 2160 Total Monthly Fees 180 Utilities Cable AvailableCable ConnectedElectricity AvailableElectricity ConnectedPhone AvailablePrivateSewer AvailableSewer ConnectedStreet LightsWater AvailableWater Connected Yrs Of Owner Prior To Leasing Re No Zoning RESI


Listing information © 2024 My Florida Regional MLS DBA Stellar MLS..
Listing provided courtesy of PR SHORT CORPORATE INTERNATIONAL REALTY: 787-525-4364.



© 2024 My Florida Regional MLS DBA Stellar MLS. All rights reserved. All listings displayed pursuant to IDX. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Data last updated 2024-07-22T21:47:34.56.
 
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