Properties for Sale, Apartments - Apartment 3 Bedrooms in Porto, Paranhos, Reduced price: 5 %, in 30 days

Three-bedroom apartment (converted into six bedrooms, all with direct light), located in Paranhos, 3rd and top floor, without elevator and garage. Apartment in good condition, rented to students.
Location: Paranhos - Areosa Area
Features: Three-bedroom apartment (with 6 bedrooms) on the 3rd and top floor!
Well maintained, equipped kitchen and furnished.
Proximity: Continente de Paranhos, Porto University Campus, São João University Hospital Center, FEUP...
3. Financial Details:
Selling Price: €289,000
Current Rent: €257 per room (each room).
Annual income: €1542
Condominium Expenses: undefined monthly.
IMI (Municipal Property Tax): €396.44 annually.
4. Rental Opportunities:
Annual lease contracts, subject to review.
Potential to rent each room for €450, increasing profitability.
5. Profitability Analysis:
Current Profitability Rate:
Annual Revenue: €240/room * 6 rooms * 12 months = €18,504.
Annual Expense: €396.44 IMI
Current Profitability Rate: (Annual Revenue - Annual Expense) / Selling Price = (€18,504 - €396.44) / €289,000 = 6.26 % .
Potential Profitability:
Potential Annual Revenue: €450/room * 6 rooms * 12 months = €32,400
Annual Expense (without considering expense increase): €396.44 IMI
Potential Profitability Rate: (Potential Annual Revenue - Annual Expense) / Selling Price = (€32,400 - €396.44) / €289,000 = 11.7 %.
6. Conclusion:
Solid investment with an attractive current profitability rate.
Potential to increase profitability by adjusting the rental value.
Strategic location near important academic and commercial points of interest.
This presentation provides a comprehensive view of the real estate investment, highlighting not only the current situation but also the potential for increased profitability.
We are available to clarify any doubts, and a virtual visit is also available to better understand the apartment. For a visit, call!
This apartment is available for real estate sharing with ALL real estate companies at 50% of the contracted commission.