House in Elvas

€ 290,000 For Sale

121004

Elvas, Portalegre

Assunção, Ajuda, Salvador e Santo Ildefonso

Subscribe to our newsletter and receive all of our latest properties directly to your inbox.

Description

Investment Opportunity in Historic Elvas: Versatile Property with Exceptional ROI Potential

Property Overview:
Located in the picturesque UNESCO heritage site of Elvas, close to Portalegre in the scenic Alentejo region of Portugal, this property presents a unique investment opportunity. With a fixed price of Eur 299,000, the property boasts a total gross floor space of 369 square meters spread across three floors. It features 12 rooms, each equipped with its own bathroom, making it suitable for various hospitality ventures such as a hotel, B&B, student room rental, or boutique hotel. Additionally, the property includes a 1000-liter solar system for sustainable energy use and an interior courtyard for guests to relax and unwind.

Recent Renovations & Amenities:
Recently renovated to a high standard, the property offers modern amenities and comfort. Upgrades include new plumbing and a certified electrical installation, ensuring safety and efficiency. The current owner has successfully rented out the 12 rooms to students from the nearby agricultural university for at least 10 months a year, generating a steady income stream.

ROI Calculation:
Let's consider the potential return on investment (ROI) for a prospective buyer. With each room rented out at Eur 300 per month to students, the annual rental income from the property is calculated as follows:
Annual Income = 12 rooms * Eur 300/room/month * 10 months = Eur 36,000

Given the fixed price of Eur 299,000 for the property, the ROI can be calculated using the formula:
ROI = (Eur 36,000 / Eur 299,000) * 100 ? 12.04%

This impressive ROI showcases the lucrative potential of investing in this property in Elvas. Furthermore, as the property is exempt from IMT tax, investors can maximize their returns and enjoy favorable financial benefits.

Investment Potential:
Whether you're seeking a profitable venture in the hospitality industry or a secure long-term investment, this property offers versatility and stability. Its prime location in a UNESCO heritage site, coupled with its recent renovations and reliable rental income, makes it an attractive opportunity for savvy investors.

Act Now:
Don't miss out on this exceptional investment opportunity in historic Elvas. Contact us today to schedule a viewing and explore the potential of this versatile property.
#ref: 121004

Official Mortgage Partner

Portugal Mortgage Brokers

Portugal Mortgage Brokers, licensed by the Bank of Portugal, are a free independent service working with all Portuguese banks. We specialise in offering mortgage information to residents and non-residents purchasing a property in Portugal, whether it be for a main residence, secondary home, investment, construction loan or renovation loan. We act as mortgage brokers to find you the most suitable and competitive mortgage program in the market. A simulation showing all costs is provided and an affordability check is carried out before submitting, we can then reach an official approval with the bank within 2 weeks of receiving your documents.

Visit Partner