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Josh Cotton

josh@welcomehome904.com +1(904) 982-8461

$ 599,900

Est. payment | -/mo

37 Beds

10 Baths

18,000 SqFt

Save Virtual Tour

$ 599,900

Est. payment | -/mo

Save Virtual Tour

37 Beds

10 Baths

18,000 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family 5+

Listing Status Pending

Purchase Type For Sale

Square Footage 18,000 sqft

Price per Sqft $33

Subdivision Santurce

MLS Listing ID PR9105466

Bedrooms 37

Construction Status Fixer

HOA Y/N No

Year Built 1960

Lot Size 6,534 Sqft

Acres 0.15

Property Sub-Type Multi-Family 5+

Source Stellar MLS

Property Description

Under contract-accepting backup offers. This property is an 18,000 square foot building in the Sagrado Corazon area of Santurce, San Juan, Puerto Rico. The Sagrado Corazon area of Santurce is an up and coming area with lots of improvements, investments, and foot traffic in the area.

The property consists of 3 floors, each with approximately 6000 square feet. There are currently 2 operating businesses as tenants on the first floor. One business is a convenience store, restaurant, bar with 2 bathrooms. The other business is a restaurant with 1 bathroom. These businesses occupy approximately 30% of the first floor so there is much more potential for more businesses on the first floor alone.

The second and third floors are currently set up as apartments that do need repair and remodel work. The second floor has 6 apartments total, four 4 bedroom 1 bath apartments, one 3 bedroom 1 bath apartment, and one 1 bedroom 1 bath apartment. The third floor has 5 apartments, three 4 bedroom 1 bath apartments and two 3 bedroom 1 bath apartments.

The second and third floors can be repaired to be Plan 8 housing, long term rentals, short term rentals. Or, can be completely converted to different uses.

The property is a great investment opportunity in an up and coming area. Potential businesses include, but are not limited to, Restaurants, Bars, Nightclubs, Virtual Reality, Laser Tag, Beauty Salons, Doctor's offices, Real Estate offices, Dance Studios, Karate Studios, Short Term rentals, Long Term rentals, Plan 8 housing, Storage Rentals, plus many, many more potential businesses. The opportunities for this property are endless with a lot of space to make your dreams come true. The property can house pretty much any business one can think of. A Buyer could also obtain tax credits for tourism development or long term housing development via Act 128. In addition, Sellers are willing to SELLER FINANCE which makes this even more of an attractive opportunity.

Location

State PR

County San Juan

Community Santurce

Area 00915 - San Juan

Zoning SU

Interior

Interior Features High Ceilings, Living Room/Dining Room Combo, Open Floorplan, Other

Heating None

Cooling None

Flooring Ceramic Tile

Fireplace false

Laundry None

Exterior

Exterior Feature Balcony, Other, Sidewalk

Community Features Street Lights

Utilities Available Electricity Connected, Fire Hydrant, Public, Sewer Connected, Water Connected

View City

Roof Type Cement

Garage false

Private Pool No

Building

Lot Description City Limits, Near Public Transit, Sidewalk

Foundation Slab

Lot Size Range 0 to less than 1/4

Sewer Public Sewer

Water Public

Structure Type Concrete

New Construction false

Construction Status Fixer

Others

Senior Community No

Ownership Fee Simple

Acceptable Financing Owner Financing

Listing Terms Owner Financing

Special Listing Condition None

Virtual Tour https://my.matterport.com/show/?m=nXYR4bNSQb6

Listed by Michael McCarty MICHAEL MCCARTY

NEARBY SCHOOLS & PROPERTIES

"People Before Property"

Assisting buyers and sellers in achieving their goals is literally what I love to do!

+1(904) 982-8461

josh@welcomehome904.com

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1960 BORIQUEN San Juan, PR 00915