Calidonia Establishments

For Sale

Mixed Use Apartment Building For Sale | La Ilusion

$ 4,000,000

This seven-story mixed-use apartment building for sale is on Avenida Central, one of the city’s busiest and most prominent thoroughfares. It is also three blocks from the newly renovated seafood market and the entrance to the historic district. Mixed-Use Income Opportunity The property consists of 66 apartments and 550m² of prime street level retail, providing high visibility for businesses and consistent occupancy over the years. It is structurally and mechanically sound and a fresh coat of paint will be the first thing we recommend to a new owner. Low Operating Costs, High Returns This property has very low operating expenses, with monthly utilities and maintenance costs under $2,000. Due to the building’s age, annual property taxes are also very low—less than $3,000 per year—further boosting net profitability. The property generates $26,000 per month in rental income, offering investors strong and stable cash flow with NOI coming in at just over $22,500/month. The asking price is negotiable. There is also significant room for rent increases, given market demand and continued development within the neighborhood. Current zoning permits units in the 04, 05, and 06 lines of the building to be easily converted into two bedrooms, increasing the rent by 30% with minimal capex. Stable Tenant Mix Most residents in this apartment building for sale are working class and either walk to work or take public transportation. Nelson Cafe, the anchor tenant, has been in the building for over 20 years and just completed a $20,000 renovation.

Calidonia 3610.00m²

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For Sale

Historic Building for Sale with Zoning MP-RM3C2

$ 1,780,000

This 1,200 m2 lot located in the most prestigious area of La Exposición (Calidonia) is a perfect development site. With favorable MP-RM3C2 zoning, it can be developed as a multi-family housing complex with commercial locales on the ground floor or as high-intensity commercial structure with multiple business activities permitted. The property is flat, rectangular in shape and fully fenced. It can be accessed from Avenida Cuba or Calle 36. Within easy walking distance are two hospital complexes (private and public), a metro station, multiple government offices, hotels and restaurants. As development of the downtown core moves west of Bella Vista, savvy investors and experienced developers are already acquiring properties in La Exposición, which many are deeming "the next Casco Viejo" given its historic importance and unique architectural style.

Calidonia 1200.0m²

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