35-Unit Hospitality Property in Santurce, San Juan

This is a unique investment opportunity to acquire a stylish, newly transformed 35-unit hospitality property located in the vibrant Santurce neighborhood of San Juan, Puerto Rico. Designed for the tourism sector, the building features a mix of studios, one-bedroom, and two-bedroom apartments, offering significant potential for short-term rental revenue or conversion into a boutique hotel. The property spans approximately 27,991 square feet and is situated in a neighborhood poised for substantial growth.

The building is equipped with a 150 kW substation and a 500 kW generator for reliable power. Originally configured as 70 office units, it is being extensively renovated into 35 larger units, with over half already remodeled and furnished. The third and fourth floors are currently generating income, while the rooftop terrace and ground floor spaces present opportunities for customization, such as a restaurant or café, potentially qualifying for tourism tax incentives. The property is also being structured under Puerto Rico's condominium law, allowing for individual unit sales.

This offering bridges the gap between budget accommodations and traditional hotels, aiming to infuse local Puerto Rican culture and art into the guest experience. The property's strategic location and ongoing transformation make it an attractive venture for discerning investors in the hospitality market.