We are delighted to present this exceptional investment opportunity in the very heart of Arrecife. This building, full of potential, is located just a few steps from the iconic Playa del Reducto and the vibrant city center. A prime location with high demand for both residential and holiday rentals — ideal for developing a highly profitable real estate project.

This four-story building includes six residential units and comes with a fully approved and paid renovation project and building license. Over 50% of the renovation work has already been completed, allowing the buyer to resume and finalize the project immediately after purchase.

Property layout:
• Ground floor:
• A 65 m² unit (converted from a storage space, change-of-use in process) with 1 bedroom, spacious bathroom with dressing area, open-plan kitchen-living room, and private entrance.
• Storage/garage area, a guest toilet, central staircase, and space reserved for a future elevator installation.
• First floor:
• A 118 m² apartment with 4 bedrooms, 2 bathrooms, large living room, separate kitchen, and interior patio.
• Second floor:
• Two 59 m² apartments, each featuring 2 bedrooms, 1 bathroom, hallway, open-plan kitchen-living room, and balcony.
• Third floor:
• Two additional apartments with the same layout as the second floor (59 m², 2 bedrooms, bathroom, kitchen-living room, and balcony).
• Rooftop terrace:
• Private laundry/storage rooms for each apartment and an additional construction currently used for storage and private use. This space offers potential to be converted into a studio apartment or connected to one of the top-floor units to create a duplex.

The property comes with a complete architectural project, valid building license, certifications, and an up-to-date estimate for the completion of works.

This is a perfect opportunity for investors, with high potential to transform the building into a holiday rental complex, long-term rental apartments, or individual units for resale.

📞 Don’t miss out on this unique opportunity. Contact us today for more information or to schedule a viewing. We’ll be happy to assist and guide you through every step of the process.