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 

The data relating to real estate for sale on this website comes in part from the Internet Data Exchange Program of Stellar MLS. Information provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Maria Del Mar Ortiz participates in the Stellar MLS Internet Data Exchange (IDX) program, allowing display of other Stellar MLS broker's listings on this site. However, may not include all listings currently available. Information is deemed reliable but not guaranteed. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law.  Property locations as displayed on any map are best approximations only and exact locations should be independently verified.

©2024 Stellar MLS. All rights reserved. 

Data last updated 9/17/2024, 3:09 AM UTC

Powered byLuxury Presence