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Perfect for AirBnb Conversion!

Eleven 1 & 2 bedroom apartments with potential for more!

Monteflores, Santurce: Multi-Family

426 Calle Del Valle, San Juan, PR 00915

Offered at: $1,450,000

426 Calle Del Valle was built in 1965 by an engineer and the same family has owned and maintained the building in excellent condition ever since. All structural elements and utility systems are in excellent condition. It has been very successful as long-term rental apartments.

As a testament to the quality of construction/maintenance - this building had no damage from Hurricane Maria and current owners do not feel the need for damage insurance.

For conservative investors looking for low maintenance and solid return on investment, this is a great choice! Continue to rent 'as is' with approximately $6,000 in monthly income. Make an easy upgrade to some kitchens and windows and you can increase current rents by 50-80% or more. Demand for long-term rentals in Santurce is very strong.

AirBnB Potential

With a little imagination and remodeling,
this is one of the best AirBnb opportunities I've seen!

Many similar AirBnb apartments in this area rent for $100/night and up...
With 11 apartments, this provides an excellent ROI even at 50% occupancy.

Structural elements are in excellent condition.
Some units recently renovated.
You could start renting after painting & refurnishing.

Depending on your vision for the project,
rates & occupancy can be much higher.

- - Consider converting the 1,443 square foot covered carport to a lobby, co-working, social space.
  - This still leave you 5 parking spaces in front of the building plus street parking.
  - Consider utilizing part of the roof for common area (cabanas, tiki bar, BBQ, lounges, and OCEAN VIEW).
  - Consider adding several 'walk-up penthouses' on the roof for additional premier rentals.
  - Consider adding a 'Gazebo Lookout Tower' on the stairwell roof with 360° views!
  - Consider full electric plant or solar options to attract relocation, corporate and Act 60 occupancy.

Any of these options would increase income.
Creating an EXPERIENCE will increase demand
and and set you apart from the competition!

11 Walk-up Apartments & Future Rooftop Potential

- - - - Ground Level
        
        Three 1 bedroom, 1 bathroom apartments with garden/patio/terrace entrances
        
        Parking: 6 secured/covered spaces(3 lanes, back-to-back)
        4 secured/open spaces (2 lanes, back-to-back)
        
        Water Tanks: 2 x 600 gallon water tanks, rainwater harvesting/treatment system, filters, pump & pressure tank
        
        Water Meters: Common AAA water meter for building (water included in rents)
        
        Utility Room: Individual electric meter per apartment and separate meter for common areas.
        
        Secure entrance from street, mailboxes and second secured entrance to stairs
        
        2nd Floor
        
        One 2-master bedrooms (each with ensuite bathroom) apartment with 2 balconies
        
        One 1-bedroom, 1 bathroom apartment with balcony
        
        Two 1-bedroom, 1 bathroom apartments
        
        3rd Floor
        
        One 2-bedroom apartment with master bedrooms (each with ensuite bathroom)
        
        One 1-bedroom, 1-bathroom apartment with balcony
        
        Two 1-bedroom, 1-bathroom apartments
        
        Laundry Room (common area) which could be modified to secure storage/laundry for Airbnb conversion.
        
        Roof
        
        3,000 square foot undeveloped building roof area with ocean view
        
        Approx. 320 square foot undeveloped stairwell roof area with ocean view
        
        Access by main stairway and secured door from stairwell
        
        Roof was completely renovated in 2021.

Building: 9,162 square feet (7,719 residential/1,443 carport) :: Lot: 597 square meters

Zoning ZU-R-5 (High Density Residential with large lot size)

Flood Zone C (no need for flood insurance)

CRIM: $5,664 per year (Payments of $2,832 in January & July)

Electric: Average $42/month (common areas)

Water: Average $320/month (includes all apartments)

Building had no damages from Hurricane Maria

LOCATION: Monteflores was the premier neighborhood for San Juan's elite families from the 1900's through the 1960's. It is the highest point in San Juan - so before air conditioning - architects created classic mansions designed to take advantage of fresh tropical breezes. Antonin Nechodoma, Tomas Marvel and others used Monteflores as a showcase for their best works. You can still see many of these mansions being restored to their original glory.

Located in the Sagrado Corazon Historical District, this is one of San Juan's favorite residential neighborhoods where you'll meet your neighbors as they walk their dogs or stroll through streets named Magnolia, Flamboyán, Las Violetas and Roselane:

- - - - Walk to Ponce de Leon Avenue in 6 minutes for the bus to Santurce, Miramar, Condado and Old San Juan. Another 3 minute walk brings you to CVS, Popeye's and the Urban Train plus lots of local businesses in the upcoming area of Avenida Borinquen. In the other direction, its only about a 18 minute walk to trendy Calle Loiza or Ocean Park Beach.
      - For short term rentals, 426 Calle Del Valle is half-way between SJU airport and Old San Juan with easy UBER availability.
      - For corporate/relocation residents, proximity to major highways/transportation hubs makes it perfect for an easy commute.