Apartment T4 transformed into T5, in Rio Tinto, Gondomar, in the renowned cooperative Mão à Obra, well-maintained in terms of spaces, this is a property ready to provide immediate monthly profitability.
Apartment Features:
- Spacious T4 apartment transformed into T5.
- In good overall condition, offering an excellent investment opportunity.
- Fully equipped kitchen.
- 1 full bathroom and 1 half bathroom.
- Location: Rio Tinto, Porto.
Proximity to Major Universities and Institutions: Next to the main faculties of the city of Porto (FEUP, São João Hospital Center, University of Porto Medical School, IPO, São João Hospital)... Strategic location with easy access to public transportation and local amenities. Various services, commerce, and transportation in the surrounding area.
Income Opportunity:
- Each room is currently rented for €235 monthly.
- Potential to increase the rent to €350 per room monthly.
- Annual contracts ensure stability and predictability in the return on investment.
Financial Details:
- Sale Price: €229,000.
- Current Annual Rent: €14,100.
- Annual Expenses: €1,116 (including taxes and condominium).
- Current Return Rate: 5.66%.
Appreciation Potential:
- Potential rent increase to €350 per room.
- Potential Annual Income: €21,000.
- Potential Return Rate: 8.68%.
Additional Information:
- Property Tax (IMI): €276 per year.
- Monthly condominium fee: €65.
Why Invest in this Apartment:
- Strategic Location: Close to educational institutions, ideal for students.
- Solid Income: Current and potential, providing financial stability.
- Appreciation Potential: With the possibility of increasing monthly rent.
- Annual Contracts: Ensure predictability in the return on investment and flexibility to adjust current monthly values.
Don't miss this unique real estate investment opportunity in an excellent area of Porto. Schedule a visit today and discover the potential of this apartment to enhance your investment portfolio. We have a virtual tour available for you to preview the apartment virtually or you can schedule an in-person visit with me. (The apartment is fully occupied, hence the difficulty in presenting better photos. We apologize for this inconvenience). Contact us for more information and to schedule visits.