Reduced from 70,000€ to 65,000€
The owners have reduced this property by 5,000€ for quick sale.
2 Bed Property in Heart of Jimena
This 2 bed property is in prime location in the centre of Jimena Village. Walking distance to shops and schools. Close to Post Office. Plus, it has a garden with a couple of out houses which can be adapted with requisite planning permission to add a swimming pool for example. The upstairs is unused and can be reformed to add another bedroom and bathroom. This property with access/egress via 2 streets can be reformed into two apartments.
Buy for Only 65,000 €
There is value in this property and after reforms it should be possible to rent out either short term or long. Rentals long term could realise approximately 700 – 750€ or more if a swimming pool added. After reforms it should be possible to put this back onto the market and expect to sell for approximately 165-180,000 € Even after requisite spending it should still return an interesting investment.
Estimate of Reform
We asked a builder to give a price for knocking out the supporting walls downstairs, putting in supporting beams and creating a first floor terrace. The result would be an open plan sitting and dining and kitchen area which lead to the garden and downstairs bathroom. Upstairs would be 2 beds and a shower room plus terrace for views looking east. The builder quoted 35,000€ not including bath fittings, kitchen units etc. We think that 50,000€ would get you a very nice investment. We can put you in touch with the builder. It will probably take 4-6 months to get the planning permission and the plans need to be signed off by an architect.
Upstairs has original wooden beams. The foundations seem solid and it may be possible to to substitute a reinforced joist for one of the walls and gain at least an additional 50 m2. The adjoining property has added another floor and, as the precedent is set, this should also be possible here. In which case, the amount of work and the amount of returns would be even greater than those estimated.
Jimena de la Frontera – Famous White Village
The location is highly desirable and near off road parking to add even another positive to this ever growing list. Jimena is popular all year round for holiday makers who visit for a wide variety of reasons from bird watching to rambling. In addition, the Arabic-Roman castle holds great historical interest as well as being a fantastic venue for flamenco and opera concerts.
We strongly recommend that you visit this property so as to avoid disappointment. Contact us now to arrange a viewing. You won’t regret it.
IBI is very low – approximately 150 per year. All of the apperwork is in order and this is priced to sell.