Apartment Building Perfect For Conversion.

Five-storey building located on a 300 m² urban plot, two streets back from Figueretes beach and its renovated seafront promenade. The area is undergoing significant renewal, with new hotels, shops and restaurants. It is a 10-minute walk from Ibiza’s historic centre and only a few minutes’ drive from Playa d’en Bossa and the airport.

The property is sold as a whole and with the current tenants in place. It consists of 8 apartments —four with two bedrooms and four with one bedroom— all with a kitchen, living room and terrace, as well as a ground-floor commercial unit. The total built area is approximately 900 m².

The apartments and the ground-floor unit each have independent title deeds. The commercial unit is not being sold as a nightclub. The land registry allows for up to nine dwellings on the plot, so the ground floor could be converted into a large apartment, or duplex units could be created on the upper floors.

The building is currently rented out and generates approximately €115,000 per year, not including pending rental updates. The sale price is €2,800,000, and there is also an option to purchase with a deferred payment structure for €2,400,000. This option allows the buyer to receive the rental income from the moment the agreement is signed and to manage the removal or renewal of tenants at their own pace.[IW]