Listing Summary
Your Turnkey Hospitality Vision Awaits: A 35-Unit Art-Infused Condotel in Transforming Santurce.
Full Description
Unveil a prime investment opportunity in the heart of Santurce with this nearly completed, 35-unit hospitality building.
This strategically located property has been expertly converted from 70 office units into 35 spacious, modern apartments (studios, one-bedroom, and two-bedroom) designed specifically for short-term rentals or hotel use. Spanning approximately 27,991 square feet, the building offers high revenue potential, capitalizing on Santurce's rapid transformation—a growth trajectory comparable to early SoHo or Brickell.
Key features driving value:
-
Income Generating Now: The completed third and fourth floors are already cash-flowing.
-
Ready for Customization: The rooftop terrace and prime ground-floor commercial spaces (perfect for a restaurant/café) are ready for the new owner's custom design.
-
Resilient Infrastructure: Includes a powerful 150 kW substation and a 500 kW generator for reliable power.
-
Flexible Exit Strategy: The property is set up under Puerto Rico's condominium law, allowing for individual unit sales (each unit has its own deed and tax number).
-
Incentive Potential: Eligible for tourism tax incentives and the recently approved Long-Term Rents Tax Credits (Act 182).
This is more than a building; it's a unique venture aiming to bridge the gap between budget and traditional three-star hotels while celebrating Puerto Rican culture and the vibrant art scene of Santurce. Your hospitality success story starts here.
Quick Glance
- Listing ID:
CL-Puerto Rico-26635
- Status:
Active
- Year Build:
1980
- Building Size:
10,800 SqFt
- Lot Size:
0.25 Acre