Active
60 ISMAEL RIVERA ST #1-3
SAN JUAN PR, 00911
$1,150,000
$319.44 per sqft
Active
8 Beds
5 Baths
3,600 sqft
Residential
Built in 1970
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; in June, it 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 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. The owner is open to financing a portion of the sale price through a Lease-to-Purchase Option. OPPORTUNITY
Buyers must have a pre-approval letter from the bank and POF.
PR9097979
MLSⓇ ID
January 5, 2023
Listed
September 17, 2024
Updated
Map
60 ISMAEL RIVERA ST #1-3
SAN JUAN PR, 00911
Interior Features
Total Stories
2
Bedrooms
8
Total Bathrooms
5
Full Bathrooms
5
Interior Features
Ceiling Fans(s), High Ceilings, Living Room/Dining Room Combo, Primary Bedroom Main Floor, Smart Home, Solid Surface Counters, Solid Wood Cabinets, Stone Counters
Appliances
Cooktop, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Tankless Water Heater, Washer, Water Filtration System
Laundry Description
Common Area, Electric Dryer Hookup, Gas Dryer Hookup, Outside, Washer Hookup
Floor Description
Ceramic Tile, Tile
Fireplace
No
Cooling
Yes
Cooling Description
Mini-Split Unit(s)
Heating
No
Heating Description
None
Exterior/Building Features
Lot Size
0.09 Acres
Exterior Features
Balcony, French Doors, Garden, Hurricane Shutters, Lighting, Outdoor Grill, Private Mailbox, Sidewalk
Lot Features
Flood Zone
Architectual Style
Contemporary, Mediterranean
Roof
Concrete
Sewer
Public Sewer
Other Property Details
Area Name
00911 - San Juan
Taxes
$1,200
Tax Frequency
Annually
Days on Market
560
Garage
No
Parking
Alley Access, Curb Parking, Off Street, On Street
View
Yes
View Description
City
County
San Juan
Municipality
SJ
Water Source
Public
Pool
No
Zoning
RT-3
Green Building Features
Green Features
Solar
Listing History
Date | Event | Price |
---|---|---|
8/26/2024 | Price change | $1,150,000 -5% |
4/9/2024 | Price change | $1,200,000 2% |
12/31/2023 | Price change | $1,175,000 2% |
Listed by PUERTO RICO CORPORATE RENTALS
Listing Contact: 787-525-4364
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Data last updated 9/17/2024, 3:09 AM UTC