60 ISMAEL RIVERA ST #1-3, SAN JUAN, PR 00911

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%.