Description
REF.TR-0017C FUENGIROLA – LOS PACOS: 3,480 m² plot in the lower part of LOS PACOS – FUENGIROLA, allowing for 4,500 m² of buildable area plus 500 m² under the roof.~~Approximately 60 apartments in PB+2+Attic format. Price: Owners ask for €4,500,000 but will consider reasonable offers.~~~This plot is located in an EXCELLENT PLACE TO LIVE. EASY TO RENT. GREAT INVESTMENT. Walking distance to all services in Los Pacos. Quiet area. 15 minutes walking to the beach, promenade, and Los Boliches train station. Easy to rent to Finnish families from September to May and available in summer for personal enjoyment.~~The neighborhood of Los Pacos is a multicultural, multilingual residential area with a cosmopolitan atmosphere, 15 minutes walking to the beach, close to all services, and home to a significant, affluent Finnish community. High-demand area for Scandinavian buyers and, recently, also Dutch and American buyers.~~URBAN CLASSIFICATION: Urban plot for approximately 60 apartments on Ground Floor + 2 + Attic. Open Block BA for 4,598 m²T according to Updated Urban Planning carried out in February 2024 by the Municipal Architect and OFFICIALLY APPROVED in July 2024.~~COST AND SALES ESTIMATION:~~Option A:~~Plot price: €4,500,000 / 5,000 m²T = €900/m²T~Construction cost: €1,400/m²T~M2 Cost: €900 (land) + €1,400 (construction) = €2,300/m²T~Current market price per m²T: €4,000~Cost of 85 m² apartment: €2,300 x 85 m²C = €195,500~Average sale price: €340,000 – Cost €195,500 = €145,000 (profit per apartment)~Cost of 60 apartments: €195,500 x 60 = €11,700,000~Sale of 60 apartments: €340,000 x 60 = €20,400,000~TOTAL FOR 60 APARTMENTS: €20,400,000 (sale) – €11,700,000 (cost) = €8,700,000 – 8% marketing (€696,000) = Approx. €8,004,000 profit.~Option B:~~Plot price: €4,300,000 / 5,000 m²T = €860/m²T~Construction cost: €1,400/m²T~M2 Cost: €860 (land) + €1,400 (construction) = €2,260/m²T~Current market price per m²T: €4,000~Cost of 85 m² apartment: €2,260 x 85 m²C = €192,100~Average sale price: €340,000 – Cost €192,100 = €147,900 (profit per apartment)~Cost of 60 apartments: €192,100 x 60 = €11,526,000~Sale of 60 apartments: €340,000 x 60 = €20,400,000~TOTAL FOR 60 APARTMENTS: €20,400,000 (sale) – €11,526,000 (cost) = €8,874,000 – 8% marketing (€710,000) = Approx. €8,164,000 profit.~For more information and viewings, please contact one of our sales agents. On-site visit recommended. Agency fees are included in the sale price, so no additional management or consulting fees are required.~~In compliance with Decree 218-2005 of October 11th of the Junta de Andalucía, clients are informed that notary fees, registration fees, and VAT are not included in the price. As a consumer, you have the right to be informed and to receive the corresponding documentation according to Decree 218/05 of October 11th.~~The information provided is indicative, non-binding, and has no contractual value.~~
