Whether looking for a short-term or long-term rental income, this property is a great investment opportunity. Its gross income in May was $14,000 and in June was $15,926.00.
It consists of three Mediterranean-style structures built over a 378-square-meter lot, approximately 3,800 square feet of construction, four parking spaces, a TESLA battery, and 38 solar panels connected to a Net Metering system that will significantly reduce electricity bills. The property also includes an outdoor entertainment area. Ocean Park Beach is four blocks away.
The main building has two independent units. The first unit on the ground floor has four remodeled bedrooms, two full bathrooms, a living/dining room, a full kitchen, and a porch in front. Each of the bedrooms and the living room has an AC split unit. The second-floor unit features three bedrooms, two full bathrooms, and a spacious open-layout kitchen with access to the balcony, living, dining, and family room. It is in the perfect location.
The second building, located at the back of the property, has one bedroom and one bathroom. Owners can live in the main building and operate their business or rent the units to generate additional income.
The 4-bedroom unit has been fully remodeled and rented on a short-term basis. This property generated a gross income of $14,000 in May and $15,926.55 in June 2024. It is perfect for short-term rentals like Airbnb and is a sought-after area for tourists and relocations.
The property is in a great community. “Many restaurants are located within a short walking distance from here.” There are also cafes, fresh food markets, parks, and shopping. There are also great nightlife activities, including cultural and music nights at La Placita or Ventana al Mar in Condado. There is an area in the back where a small pool can be put.
All three apartments are turn-key, ready for rentals, and generate attractive cash flow. Tax incentives may apply. The price is not subject to appraisal. Please call for a private appointment.
The ROI for this property is very attractive 13.6%.
Expenses; electricity is $200 per month, water is $40 per month, internet is $100 per month and taxes are $77.47 per month. Total expenses $417.47.
Gross income $14,000 per month minus expenses $417.47 for $13,582.53 NOI. The ROI is 13.6%.
It consists of three Mediterranean-style structures built over a 378-square-meter lot, approximately 3,800 square feet of construction, four parking spaces, a TESLA battery, and 38 solar panels connected to a Net Metering system that will significantly reduce electricity bills. The property also includes an outdoor entertainment area. Ocean Park Beach is four blocks away.
The main building has two independent units. The first unit on the ground floor has four remodeled bedrooms, two full bathrooms, a living/dining room, a full kitchen, and a porch in front. Each of the bedrooms and the living room has an AC split unit. The second-floor unit features three bedrooms, two full bathrooms, and a spacious open-layout kitchen with access to the balcony, living, dining, and family room. It is in the perfect location.
The second building, located at the back of the property, has one bedroom and one bathroom. Owners can live in the main building and operate their business or rent the units to generate additional income.
The 4-bedroom unit has been fully remodeled and rented on a short-term basis. This property generated a gross income of $14,000 in May and $15,926.55 in June 2024. It is perfect for short-term rentals like Airbnb and is a sought-after area for tourists and relocations.
The property is in a great community. “Many restaurants are located within a short walking distance from here.” There are also cafes, fresh food markets, parks, and shopping. There are also great nightlife activities, including cultural and music nights at La Placita or Ventana al Mar in Condado. There is an area in the back where a small pool can be put.
All three apartments are turn-key, ready for rentals, and generate attractive cash flow. Tax incentives may apply. The price is not subject to appraisal. Please call for a private appointment.
The ROI for this property is very attractive 13.6%.
Expenses; electricity is $200 per month, water is $40 per month, internet is $100 per month and taxes are $77.47 per month. Total expenses $417.47.
Gross income $14,000 per month minus expenses $417.47 for $13,582.53 NOI. The ROI is 13.6%.
Property Details
Price:
$1,200,000
MLS #:
PR9097979
Status:
Active
Beds:
8
Baths:
5
Address:
60 ISMAEL RIVERA STREET UNIT 1-3
Type:
Single Family
Subtype:
Single Family Residence
Subdivision:
SAN JUAN-OCEAN PARK
City:
SAN JUAN
Listed Date:
Jan 5, 2023
State:
PR
Finished Sq Ft:
3,600
ZIP:
00911
Lot Size:
4,073 sqft / 0.93 acres (approx)
Year Built:
1970
See this Listing
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Schools
Interior
Appliances
Cooktop, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Tankless Water Heater, Washer, Water Filtration System
Bathrooms
5 Full Bathrooms
Cooling
Mini- Split Unit(s)
Flooring
Ceramic Tile, Porcelain Tile, Tile
Heating
None
Laundry Features
Common Area, Electric Dryer Hookup, Gas Dryer Hookup, Outside, Washer Hookup
Exterior
Architectural Style
Contemporary, Mediterranean
Construction Materials
Brick, Cement Siding, Concrete
Exterior Features
Balcony, French Doors, Garden, Hurricane Shutters, Lighting, Outdoor Grill, Private Mailbox, Sidewalk
Other Structures
Additional Single Family Home, Cabana, Gazebo
Parking Features
Alley Access, Curb Parking, Off Street, On Street
Roof
Concrete
Financial
Buyer Agent Compensation
3%%
Tax Year
2022
Taxes
$1,200
Map
Community
- Address60 ISMAEL RIVERA STREET UNIT 1-3 SAN JUAN PR
- CitySAN JUAN
- CountySan Juan
- Zip Code00911
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Courtesy of PUERTO RICO CORPORATE RENTALS. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the Stellar MLS. Detailed information about real estate listings held by brokerage firms other than CENTURY 21 Carioti include the name of the listing broker. Neither the listing company nor CENTURY 21 Carioti shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. Stellar MLS. All rights reserved. 60 ISMAEL RIVERA STREET UNIT 1-3
SAN JUAN, PR
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