14 Repossessed Apartments, Spain

Keywords : Spain

Immediate opportunity to purchase 14 buy to let apartments direct from the administrators for a fraction of the original debt of 2.5m euros. The apartments are found in two modern blocks in the commuter-town of El Campello (just outside of Alicante) which has a proven high demand for rentals. This portfolio provides investors with both rental returns of 9.3% and an exit strategy with a realistic ROI of 130%.
 
Located in an affluent area of El Campello, which is popular with commuters to Alicante, Spain. The development is just 250m from the beachtown’s lively market, on a wide road next to a green zone, meaning it won’t ever be overlooked and is of high construction quality.
 
The development comprises 10 two bed, two bath apartments, as well as 4 three bed, two bath apartments, spread over four floors. The apartments are spacious and well laid out, with six units per floor. Each property comes with a balcony, air conditioning and has a good standard of finish throughout. There is also a garage for each property and most have storage areas in the basement.
 
Key features
 
Gross yield of 9.3% on a cash purchase
 
50% discount off current market price
 
Estimated 130% ROI from resales
 
50% LTV finance available if required
 
Two and three-bed apartments with garage in El Campello, just outside of Alicante
 
Commuter rental market
 
Communal swimming pool

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