Kastela, house for sale, 489.000 €

For sale · House · Reference IB-18883

€489,000

Key facts

Price: €489,000
Price per m²: €1,287/m²
Living area: 380 m²
Plot area: 619 m²
Rooms: 6
Bathrooms: 3
Distance to sea: 209 m
Distance to airport: 5 km

70% below the regional average (Region average: €4,274/m²)Online for 14 days

Investment overview

Estimated gross yield

15.5%

Based on the rental average in Central Dalmatia of €16.67 per m² and month, drawn from 31 active rental listings. At 380 m² that works out to roughly €6,333 per month and €76,000 per year. See market data for this region

Estimated from asking rents. Not a guarantee of achievable rent.

Not included in the yield

Real estate transfer tax of 3 percent, notary, lawyer and commission, plus ongoing operating and management costs, vacancy, maintenance, tax on rental income and financing costs.

The net yield is therefore regularly well below this figure.

What we deliberately do not calculate

Holiday rental income and seasonal revenue. The rental average reflects long term leases, and we have no booking data for short lets.
Occupancy and seasonality. That would need booking data, which we do not collect.
Appreciation forecasts. Our quarterly series show past asking prices, and hindsight is not a forecast.
Net yield. It depends on closing costs, tax rate and financing of the individual buyer.

These figures are an automatic calculation from listing data. They are not investment advice, not an investment recommendation and not a valuation. They are based on asking prices of active listings on Immobalko, not on notarised purchase prices and not on rents actually achieved. Verify every figure with the agency, a tax adviser and a local lawyer before deciding.

Description

In an attractive location in Kaštela, just a few minutes from the sea, there is a legalized residential and commercial building located on a plot of land measuring approximately 619 m2. Thanks to its location, area, sea view and possibilities of use, the property represents an interesting opportunity for private buyers, investors and construction entrepreneurs. The building was built in early 1972 as a massive reinforced concrete structure. The floor plan dimensions of the building are approximately 14 × 10 meters, or approximately 140 m2 per floor. Water and electricity connections are available on the property, and the property itself is legalized. The location of the property offers a pleasant view of the sea and is located in a quiet and attractive residential environment. At the same time, thanks to the proximity of the main traffic routes, it is easy to connect to Split, Trogir and Split Airport. The land area and the existing building offer numerous possibilities for future use and development. Depending on the applicable spatial plans and conditions of the competent authorities, the property may be interesting for the development of a spacious family or multi-generational house, the development of a multi-apartment building or a residential-commercial building. It also represents a potentially interesting basis for an investment intended for long-term or tourist rental, as well as for the development of a project intended for investors and construction entrepreneurs. The ground floor of the building offers special potential, which, thanks to its area and layout, can be adapted to various business facilities. With the fulfillment of the appropriate conditions and obtaining the necessary permits, the space could serve as a shop, office, clinic, space for health or other service activities. The sea, beach and coastal promenade are only a few minutes drive away, while shops are located approximately 5 to 10 minutes walk, or only a few minutes drive. Larger supermarkets and shopping centers are available in approximately 5 to 10 minutes drive. Split Airport is approximately 10 minutes drive away, Trogir about 15 minutes, while the center of Split takes approximately 20 to 25 minutes drive.