60 ISMAEL RIVERA STREET #1-3
San Juan, PR 00911
3800 sqft | 8 beds | 5 baths | 0.93 acres | #PR9097979
Description
Whether looking for a short-term or long-term rental income, this property is a great investment opportunity.
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 32 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 new owners can build a small pool.
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.
This property offers excellent potential for increasing revenues—it's the best opportunity in Ocean Park. OPPORTUNITY
Buyers must have a pre-approval letter from the bank and POF.
Interior Details
- InteriorCeiling Fans(s), High Ceilings, Living Room/Dining Room Combo, Primary Bedroom Main Floor, Smart Home, Solid Surface Counters, S
Beds & Baths
- Bedrooms8
- Bathrooms5
- Full Baths5
Property Details
- Exterior MaterialsBalcony, French Doors, Garden, Hurricane Shutters, Lighting, Outdoor Grill, Private Mailbox, Sidewalk
- Lot DescriptionFloodZone
- ViewCity
- Stories2
Measurements
- Acres0.93
- Square Feet3800
Construction Details
- Property TypePurchase
Condition
- Year Built1970
Material information
- FoundationBrick/Mortar, Concrete Perimeter
Utilities / Energy Details
- Utility FeaturesCable Available, Cable Connected, Electricity Available, Electricity Connected, Fiber Optics, Natural Gas Available, Phone Avail
- Sewer InformationPublic Sewer
- Utility SourcePublic
Community and Neighborhood Details
- SubdivisionSAN JUAN-OCEAN PARK
Location
- CountySan Juan
Financial Details
- Original List Price$1,050,000
- Taxes Annual$1,200
- Days on Market (Cumulative)613
Restrictions
- Pets AllowedCats OK, Dogs OK, Yes
Other
- MLS #PR9097979
Location
Legal
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Some IDX listings have been excluded from this website. Listing Information presented by local MLS brokerage: Stephanie LeFew | Keys to Castles Group
Last Updated: . Source: SMLS
Listing Courtesy
Listing Agent: VICTOR ALONSO VEGA (#MFR743575220)
Listing Office: PUERTO RICO CORPORATE RENTALS (#MFR743580042)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
