InvestmentCorners that Add Up
Bought for €125,000, sold for €260,000. A return of over 28 % after all costs.
Four Homes Brought Back
Residential building · Los Barreros, Cartagena
A 1958 building, squatted and vandalised, turned into four homes ready to sell.
A 1958 building in Los Barreros, with a ground floor, a first floor and two large courtyards. When we arrived, it was a bleak sight. It had been squatted and vandalised for years: electricity tapped illegally from the street, floors ripped up, plumbing that didn't work, no meter panel and a roof in ruins. The first job was to get it cleared and cleaned.
The whole building belonged to a single owner, so it had to be legally divided ('división horizontal') so that each home could be sold separately. It was also outside current planning rules, and we prepared the submission to the town hall making it clear that, in the event of compulsory purchase, fair compensation would be paid.
The homes had three bedrooms and a single bathroom. With the whole building to work with, we added a second bathroom to each one, using space from the living room. Three bedrooms and two bathrooms sell far better.
The investor bought at a good moment, around 2020 or 2021, and the deal returned more than 50 %.
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