PAG - OPPORTUNITY!! House with 5 Apartments

For sale · House · Reference IB-19555

€599,000

Key facts

Price: €599,000
Price per m²: €2,723/m²
Living area: 220 m²
Plot area: 450 m²
Rooms: 10
Bedrooms: 8
Bathrooms: 6
Distance to sea: 1 m
Distance to airport: 44 km

29% below the regional average (Region average: €3,850/m²)Online for 12 days

Investment overview

Northern Dalmatia currently has 10 active rental listings. From 20 comparable listings onwards we show the estimated gross yield here.

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

We are selling a house with 5 apartments in the city of Pag, located 250 meters from the sea and beach. Each apartment has a separate entrance, and as summer tourism is already an established, long-standing business, the new owner can simply continue operations. On the ground floor are two apartments, one measuring 44.45 m2, while the other is smaller at 39.15 m2, both with terraces. On the first floor are two one-bedroom apartments with living rooms, also both with terraces. The second floor features one two-bedroom apartment with living room, kitchen and dining area, bathroom, and a terrace on the south and north sides, measuring 82.26 m2. The total capacity of the property is 22 people. Prices achieved during the season are 75€ for smaller apartments (2+2) and 100€ for larger apartments (4+2). Revenue in 2023 was 25,000€. Renovation and winter rentals would certainly increase income. There is potential to add two more apartments of approximately 40 m2 each, which would further increase rental income. Beautiful views of the city of Pag, the city beach and Pag Bay. The roof on the house is newer, Tondach Venera tile in ochre color. Part of the facade, courtyard and terraces are clad with Benkovac stone. Apartments are sold furnished, and the house has new refrigerators, stoves, washing machine, external solar water heaters, new LED TVs... The apartments are on different levels. The house is located in an excellent location. An opportunity not to be missed.

This text was machine translated and reviewed by the agency.