609 Condado Avenue,SAN JUAN, PR 00907
SAN JUAN, PR 00907
Description
Under Construction. Discover a unique investment opportunity with our newly transformed 35-apartment building, designed specifically for the hospitality and tourism sector. Featuring stylish studios, one-bedroom, and two-bedroom apartments, this strategically located property in Santurce spans approximately 27,991 square feet of usable space and promises great potential for short-term rental revenue or for use as a hotel. As a neighborhood in transition, Santurce is poised for significant growth, reminiscent of the transformations seen in areas like Soho and Brickell. Included in the sale is a 150 kW substation and a 500 kW generator, ensuring reliable power for the building. Originally designed with 70 office units and 16 parking spaces, the property has undergone extensive renovations, including converting the 70 units into 35 larger units with an average size of 580 square feet. More than half of these units, all with their own kitchen, have already been beautifully remodeled and furnished, all with the renovation process nearing completion.The completed third and fourth floors are already generating income, while the rooftop terrace and ground floor spacesideal for a restaurant or caféremain to be designed, allowing the new owner to customize these areas to their taste. This flexibility may also make the property eligible for tourism tax incentives, as well as potential for the recently approved Long-Term rents Tax Credits (Act 182). Additionally, we are converting 70 electric meters into 40, with each unit having its own deed and tax number under Puerto Rico's condominium law, allowing for individual unit sales if desired. Our concept aims to fill a unique niche in the hospitality market, bridging the gap between budget accommodations and traditional three-star hotels. We’re passionate about infusing the rich culture of Puerto Rico into every corner of our building, showcasing local artists and celebrating the vibrant art scene of Santurce. Invest in a property that not only offers a comfortable stay but also embodies the local culture and community. With the neighborhood's promising trajectory, your perfect hospitality venture awaits!
Details
| MLS # | PR9110877 |
|---|---|
| Listing Type | For Sale |
| Style | Hospitality |
| Sub-Type | For-sale |
| Status | Active |
| Year | 1980 |
| Days On Site | 189 |
| Listing Provided By | ILIA MARTINEZ & ASSOCIATES | Ilia Martinez Carn |
Features
| SQ Feet | 28,000 |
|---|---|
| Acreage | 0.25 |
Taxes
| Property | 14000 |
|---|
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Listings courtesy of Stellar MLS as distributed by MLS GRID.Based on information submitted to the MLS GRID as of July 16, 2025 at 2:00:01 AM PDT All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com. “The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.
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Learn More About This Property
| State | PR |
|---|---|
| County | San Juan |
| City | SAN JUAN |
| Zip Code | 00907 |
| Area | 00907 San Juan |
| Community Name | CONDADO 609 |