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2060 Calle Loiza - SOLD!
Gateway to Loiza Street + Ocean Park Beach
2060 Calle Loiza, San Juan, PR, 00911 USA
GPS: 18.449848, -66.051766 Click here to view Google Maps
Building: 6,167 square feet Lot Size: 210 square meters Zoning: C-2 Flood Zone: X
CRIM (real estate tax): $5,000/year (50% due January 1st and 50% due July 1st)
Insurance: $3,238 ($500,000 structure/$6,000 contents/$1 million liability)
Ground Floor Commercial: 1,664 square feet, 12'9" ceilings, 2 toilets + 4 parking spaces.
Rear extension could revert to a 9'2"wide patio/open space if roof was removed.
(Could easily be converted to two commercial spaces)
3rd Floor: One renovated 2-bedroom/1 bathroom apartments used as AirBnb short-term rental units.
One non-renovated 2-bedroom/1 bathroom apartment rented long-term ($500/month + utilities)
AirBnb Listing: Apartment 3A
Apartments are approximately 700 square feet each with 8'9" ceilings.
Apartment interior walls are wood panel so could easily be re-configured as loft-style apartments.
Apartment furnishings are basic - with upgrades, income could be increased.
Two apartments with views of ocean, beach and park (3B + 4B).
Rooftop: Approx. 1,650 square feet with ocean + park + mountain views = POTENTIAL!
Walk-up: There is no elevator in the building
SOLD: $ 830,000
This is a unique opportunity to invest in Calle Loiza,
one of the most famous neighborhoods in the Caribbean.
Are you an investor or business looking to tap into Calle Loiza's growing reputation as the center of San Juan's hip, artistic community that attracts both locals and tourists to its eclectic vibe just a few blocks from the best beach in San Juan?
Bordered by the upscale neighborhoods of Condado, Ocean Park and Santa Teresita - Calle Loiza will be even more attractive as Condado becomes fully built and high-rise development is not allowed within the gated community of Ocean Park or the adjoining Parque Barbosa.
Location, location, location! At the eastern end of Loiza Street's eclectic mix of restaurants, bars, clubs, boutiques, tattoo parlors, salons, traditional neighborhood shops, cafés, galleries and the famous Kasalta Bakery. The building is a short 5 minute walk to the surf, sand, sun and fun on Ocean Park/Ultimo Trolley Beaches - the best beaches in San Juan! On the way, you'll pass Barbosa Park with running track, tennis courts, basketball court and baseball field.
If you're looking for a great investmente opportunity, this may be the right building for you!
Directly across from Parroquia Santa Teresita - Catholic School & Church
Directly across from NEW 24 hour Los Pinos Restaurant - famous for local cuisine!
Directly across from bus stop T5 to Airport or Old San Juan
5 minute walk to Ocean Park Beach / Ultimo Trolley Beach / Parque Barbosa
This end of Calle Loiza is developing rapidly and has excellent prospects for future appreciation!
STREET LEVEL COMMERCIAL SPACE + 4 Parking Slots
Exposure for your business is fantastic with approximately 30 foot frontage on Calle Loiza. 1,650 square feet. Two bathrooms. 4 parking spaces. This space could be divided into two commercial units.
Six renovated two-bedroom/one bathroom apartments
Each apartment is fully furnished with approximately 900 square feet per unit.
FLEXIBLE RENTAL STRATEGY
The best feature of this building is its ability to adapt to either short-term or long-term rentals.
Until March 2020, five units were fully booked with AirBnb guests. Since covid-19 has limited the potential for tourism for the coming months, the apartments will immediately be offered on a long-term basis from 3-12 month terms until tourism return. As an owner, this gives you maximum flexibility to optimize income or personal use of the units according to your lifestyle and investment goals.
The building and success with AirBnb apartments were featured in an official Discover Puerto Rico video promoting AirBnb, Calle Loiza and Ocean Park Beach to promote tourism on Calle Loiza and show how short term rentals have transformed the area.
2019 nightly rates were 20-50% less than similar two-bedroom AirBnb listings on Calle Loiza. Current owners had chosen to price low to test the market, acquire great reviews and maximize occupancy. Now that the property has proven successful - they are ready to increase prices, optimize inventory/seasonal revenue and explore additional distribution channels to increase profits. Successful hostel next door increases visibility and helps attract guests to the area - but does not compete since they do not offer apartments.
Whether rented as short or long-term units, there is always good demand in the Calle Loiza area from both locals and visitors.
One non-renovated two-bedroom/one bathroom apartment
Apartment 3B has not been renovated yet - but has the same 2 bedroom/1 bathroom layout as the other B-line units. Currently rented long-term for $500/month plus utilities, this apartment is ready to be converted to another Airbnb rental or could be an owner/manager suite. If this apartment were renovated the monthly income would at least double since similar rentals in the area exceed $1,000/month.
FANTASTIC VIEW FROM THE ROOF!
The roof is currently undeveloped other than a hang-out for AirBnb guests with seating and view to the park and ocean.
The rooftop potential is HUGE! It has a fantastic view of the ocean, park, mountains and urban skyline. Imagine a chic urban lounge / tiki bar / BBQ / jacuzzi spa which could be shared space for all AirBnb units - acting as an ocean-view extension of each apartment and result in higher Airbnb rates/occupancy for all units.
Imagine a penthouse suite which could be designed for AirBnb PLUS and premium AirBnb rates/occupancy.
Imagine your own duplex 'owners suite' or apartment for the Calle Loiza lifestyle!
SOLD: $ 830,000
DON'T MISS THIS UNIQUE OPPORTUNITY!
If you need a broker in San Juan, PR - call 787-455-4216
Our real estate broker office is located in San Juan's SANTURCE Arts District near Ciudadela, Lote 23 & Cobian's Plaza.
Office hours are Monday - Saturday from 9am - 7pm. (by appointment only).