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Property description
Property for Local Accommodation in Santa Luzia, Funchal: An Exceptional Investment OpportunityThis building, strategically located in the quiet and sought-after area of Santa Luzia, in the heart of Funchal, represents a unique investment opportunity for local accommodation. Its privileged location combines the convenience of the city center with the quality of life of a calm residential area, making it ideal for tourists and visitors looking for an authentic and comfortable stay.The property currently boasts almost full occupancy throughout the year, a reflection not only of its excellent location but also of the strong and consistent demand for rentals in the area. Its versatile and functional layout includes eight bedrooms two single and six double and an independent two-bedroom apartment. Additionally, there is another two-bedroom apartment on the top floor. This diversity of typologies makes it perfectly suited for local accommodation, allowing for efficient management tailored to different guest profiles. The current profitability of the rooms is 45, 58, and 68 per night, which, combined with a 99% occupancy rate throughout the year, demonstrates its high income potential.One of the strongest points of this investment is the current lease agreement, which was recently renewed in April for a period of seven years, with an automatic renewal clause. This contract offers a monthly rent of 2, 000 (with a 1, 500 withholding tax), plus 100 per year, ensuring the investor stability, security, and predictable long-term income.The current operation presents excellent profitability, with notably reduced operational costs, reaching a maximum cost of 4, 000, resulting in a remaining profitability of 9, 000-9, 500. This positions the property as a solid and immediate investment opportunity in a constantly appreciating local accommodation market. The building is fully operational, with all legal documentation in order and the possibility of immediate transfer, allowing for a quick and straightforward acquisition.Don't hesitate, schedule your visit now!If you are a real estate consultant, contact us for a 50%-50% partnership.Sousa+351 967 924 403www.d31imo.biz | www.d31.bizD31 AMI 23602