Monday - Saturday
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.
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
- 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
- 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
- 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.
- 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.
Call Richard (787) 455-4216 to schedule an appointment
Photos are preliminary from initial visit with rain/clouds and are not final photos that will be used.
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).