Cieza 2, Valencia

Financed & In Progress

Project Overview

Building on our experience for the last 2 years, this is a commercial ground floor unit that we will turn into 4 charming residential apartments in the L’olivereta neighboorhood. The space is completely deserted with nobody living in there for many years. It has 430 M2, divided between 290 M2 of interior apartment space and 140 M2 of exterior terrace space (with the possibility of creating an extra detached unit in the outside area). The newly created apartments will range between 70-90 M2 each, all of them with a huge patio attached. Most of the units will have 2 bedrooms and 2 bathrooms, all with an open kitchen design to use the light entering the apartment as much as possible.  

The strength of this project is that the properties are bought for commercial prices and sold for residential prices or kept as residential units with decent rental yields. Commercial real estate is valued lower because of its use, so when you find a property that ticks all the boxes of being able to convert into residential real estate it usually means a healthy project margin. Keep in mind, though, that conversions like these do need a big and in some cases complex renovation. 


Project Schedule

Renovation: 6-8 months
Listing Period: 1-2 months (partly overlapping)
Expected Total Project Period: 8-10 months

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