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Investment Opportunity In Los Alcazares, Los Alcázares, 03189

Apartment - For sale
Los Alcazares, studio/apartment: investment opportunity. 50% discount, low money down, a great deal.
€27,000 ( PW)

Highlights

Address:

Investment Opportunity In Los Alcazares, Los Alcázares, 03189

Price:
€27,000 ( PW)
Property type:

Apartment - For sale

Reference:

ERS017


Property description

  • Investment opportunity in Los Alcazares, Spain. 

Our client a 68-year-old gentleman wishes to pursue a "Sell and Stay" option. This means once we introduce him to the right investor, he will remain living in his home (which has recently undergone an extensive facelift at the owner's expense). 

We seek an investor for an Equity Release opportunity to buy this property for less than half price with the allowance of the current owner to live there for the rest of his life.  The current owner is 68 yrs old and would hold the right to live in the property rent-free for the remaining time he has or decides to stay in Spain. Currently, he is based in China and travels extensively; this is simply a holiday home for him. 

The investment deal is as follows.  You can purchase the property for 27,000 euros, less than half of its market value. There is another option where you can purchase the property outright for 49,999 euros and move in straight away.

Other options; include buying the property with a substantial down payment of 15,000 now and 12,500 in six months.

Talk to us and we'll talk to the owner for you. 

The apartment is a charming home in a pleasant area, in the Mar Menor vicinity, Spain.   Here you have shops, good restaurants, beaches, and a long, lovely promenade. Clients enjoy the cozy cafes just around the corner! The apartment is situated only 1500 meters from the beach.

The apartment has been totally renovated recently. The owner intends to make this his home when his travels around the world come to an end.  Renovations include new air conditioning, a new oven, and a hot water boiler. The bathroom is fitted with a walk-in Electrical power rain shower.  The entrance room has been fully double glazed including new PVC windows and a door. The living room has a new pellet-burning stove. All interior walls have been fully insulated, thus the temperature is warm in winter and cool in summer. 

The apartment is located in Los Alcazares, a  coastal spa town just 25 minutes from the Corvera international airport.   The Mar Menor which belongs to three other municipalities, San Pedro, San Javier, and Cartagena attracts tens of thousands of visitors every year. They flock here to dip in the therapeutic waters (and mud!) of the area.  This is after all Europe's largest saltwater lagoon. Connected to the adjacent Mediterranean sea by several smaller channels and canals, it is a very popular destination for sailing, windsurfing, kiteboarding, and other water sports enthusiasts. The water in the Mar Menor tends to be 3 degrees warmer than the "regular" Mediterranean waters, a bonus for year-round swimmers.  Los Alcazares plays host to numerous fiestas and festivals throughout the year. the most famous being a large medieval market at the end of every March. Another famous festival is 'La Huerta'; an international folklore festival in celebration of the region's status as the market garden of Spain.

The owner will continue to live there until such time as he moves back to the UK or into state care. He is currently 67. As an investor, you do not have to worry about maintenance, upkeep, rental arrangements or any of these headaches normally associated with a buy-to-let property. Better still you have no income tax liability as you are not earning an income. The owner reserves a Usufruct, a legal right, that cannot be taken away, to live there for the rest of his days or until he chooses to move out.  You can always sell the deal, giving you an easy exit strategy. In ten years, we estimate the value will have more than doubled. Our lawyers will structure the convincing so that the next buyer is aware of, and honors this agreement with the owner/tenant. You are 100% recognised as the legal owner and the deal is registered in the Land Registry of Spain.  

Who does the deal suit best? Are you thinking of retiring in Spain in the next ten years? This might be your perfect stepping stone. 

Ask us how we can protect your assets and get you ready for the move over here. We have in-house tax experts on hand to help you. If you'd like more details or a viewing, please just get in touch


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Information

Under the Property Misdescription Act 1991 we endeavour to make our sales details accurate and reliable but they should not be relied upon as statements or representations of fact and they do not constitute any part of an offer... of contract. The seller does not make any representations to give any warranty in relation to the property and we have no authority to do so on behalf of the seller. Services, fittings and equipment referred to in the sales details have not been tested (unless otherwise stated) and no warranty can be given as to their condition. We strongly recommend that all the information which we provide about the property is verified by yourself or your advisers. Under the Estate Agency Act 1991 you will be required to give us financial information in order to verify you financial position before we can recommend any offer to the vendor.

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Contact us

  • Adam Cook
  • Director
  • Phone: 0034 727 787 41
  • Email: adam@spanishhomes.online

Contact us

  • Adam Cook
  • Director
  • Phone: 0034 727 787 41
  • Email: adam@spanishhomes.online

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Investment Opportunity In Los Alcazares, Los Alcázares, 03189