2 Bed Property for sale in Torviscas Bajo, Tenerife, Canary Islands

LTP offer for sale this great property, 2 bedroom penthouse apartment reduced in price from 239,500??? and now for sale at 210,000??? on the complex of Sunset Bay in the Torviscas area of Tenerife. T

Rental Income

At present, this apartment has 47 weeks of rentals booked. These can be transferred to the new owner or cancelled or partially cancelled, the choice is yours. What this gives you is a ready made investment that will be generating income for you from the day you buy it. Prices to rent out this apartment are as follows:

465&eur; per week based on 2 people sharing
495&eur; per week based on 3 people sharing
525&eur; per week based on 4 people sharing
550&eur; per week based on 5 people sharing
580&eur; per week based on 6 people sharing

Based on the average price of 4 people sharing that works out at 24,675&eur; Gross rental income per year!

Community fees and water and electricity works out at 2,500&eur; per year. IBI tax is 225&eur; per year. Cleaning costs are around 1,700&eur; per year giving total costs of approximately and a net profit of 20,250&eur; per year which is 1,687&eur; per month. A fantastic complimentary passive income and you get to own a beautiful and sought after apartment on a very popular complex.

Sunset bay is centrally located in the Torviscas Bajo area, walking distance to lots of restaurants, bars, entertainment etc as well as Puerto Colon beach. You are right in the middle of everything but on a pleasant and relatively expensive holiday resort (so no riff-rafff!) The beach is a 2 minute walk and there are taxis a few metres away from the complex.

There are two swimming pools on the complex and several bars which have a constant stream of customers (always a good sign on a holiday complex.) The complex is very popular with lots of different nationalities ??? British being the most predominant. New elevators have just been installed in various locations making the complex wheelchair friendly and the upkeep and maintenance of the complex is second to none. There is a letting agent in place if you require one who can manage your rentals, cleaning, linen leaving you with a ???hands-free??? income.

Price comparisons are difficult with this unit as they are rarely up for sale (probably due to the very good income they generate) but we have seen others on sale for between 225,000&eur; and 287,000&eur;

The owner has indicated he will not consider offers on the price. Other agents in the same area as us have decided to list it at 225,000&eur; so they can ???take an offer??? and then sell it for the price we have it listed at, convincing the buyer they have negotiated some money off. We prefer to be open and honest with our buyers and appreciate them coming to us when they are looking for a property. So take 209,950&eur; as probably the lowest price you can buy it for.