Active ID: 106421244 Centro Tradicional

Flat / apartment for sale in Avenida de la Constitución

6 Bed • 2 Bath • 203 m² • Floor 3

€720,000

AI Analyst
Long-term Rental

"Prime 203 m² apartment in Alicante’s historic center with original 1950s features, panoramic plaza views, and high ceilings—offering significant value-add potential through full renovation in a sought-after urban location."

Negotiation Leverage Balanced
Value Add Full renovation to modern standards while preserving period details
Pros
  • Exceptional central location with strong demand for rentals
  • Large floorplan and high ceilings ideal for premium tenants
  • Original architectural features add unique character and value
Cons
  • Requires complete renovation, increasing upfront capital outlay
  • Monthly rent yields a modest gross yield (~4%), below typical investor targets
  • No terrace or outdoor space, which may limit appeal to some tenants
Description

The Arimar Home presents a unique home located in the iconic Ruperto Chapí square, in the heart of Alicante. This apartment, on the third floor of an elegant 1950s building, offers 203 square meters of surface area and exceptional views of the emblematic square, also known as the Plaza del Teatro. It preserves original features such as high ceilings and decorative elements of the time, which allow to maintain the classic and elegant design of the property. Upon entering, a spacious main hall gives access to the two areas of the house. The first includes the master bedroom with en suite bathroom, as well as a second bedroom, ideal as an office or dressing room. From the hall, a door leads to a large living-dining room with panoramic views and ample natural light, thanks to its southwest orientation and large windows. The connection between these rooms is made through a carved wooden door of the time, in excellent condition. A long hallway communicates with three additional bedrooms, two of them with views of an interior patio, while the third enjoys the same orientation as the living room, with views of the main façade. At the end of the hallway, a distributor gives access to a pantry, kitchen with views of the patio, and a second bathroom. The apartment needs a complete renovation, although many of its original materials are in perfect condition, such as the decorated old ceramic floors, the wooden doors and iron windows with wooden shutters. Its privileged location offers easy access to key areas of the city, such as the Rambla Méndez Núñez, famous for its restaurants and entertainment venues, and Alfonso el Sabio Avenue, the main commercial axis, just 150 meters from the Central Market. Just 5 minutes from the port of Alicante and the Postiguet beach. The house offers significant potential and has a specialized team to provide all the necessary information and organize visits.

Features
Elevator
Air Conditioning
Parking
Exterior
Fitted Wardrobes
Investment Summary
Purchase Price €720,000
Taxes (ITP 10%) + €72,000
Notary Fees + €6,048
Registry Fees + €2,304
Gestoría Fees + €2,160
Valuation + Other + €339

Total Investment €802,851
Est. Monthly Rent €2,414/mo
Est. Annual Rent €28,971/yr

Est. Yield 3.61%
Days on Market
146
First seen
2025-10-08
View on Idealista