Daily Rental: Blux Building Resale (10%-12% ROI)

Medellin, Calle 12 #30 - 126, 0000

Quick Summary

Property ID
PR1252332028
Price
COP330,000,000
Type:
Apartment
Status:
SOLD
Area:
37 m2
Rooms:
1
Beds:
1
Baths:
1.5
Tax:
$330,000.00
HOA/Admin:
$230,000.00
Building Age:
8 years
Listing Date:
May 10, 2017

Property Description

If you’re a follower of the Casacol Insider’s list, or if you’ve ever been in a consultation with us, you know that we’ll always tell you the same thing: if you’re looking for Return On Investment, go for daily rentals. That has been true for the past couple of years, and will continue to be the norm in Medellin. Why? I’ll illustrate with the following:

Let’s say you were to buy an apartment, a well-located one, in Medellin’s “Manhattan”; El Poblado. Now, all else equal, let’s say  you wanted to rent it out because your goal wasn’t just appreciation (which is running close to inflation in Medellin: 7%-8%) but also an asset that was making you money while you slept.

If you were to rent it out…

  • Long-term unfurnished: 4% net ROI
  • Long-term furnished: 8% net ROI
  • Short-term furnished (daily rentals): 10%-12% net ROI

That’s why it makes sense to invest in a short-term rental building (legally), purchase beautiful furniture and have us manage it for you. It’s as easy as 1-2-3.

The Blux is one of our five core buildings (in which we run legal daily rentals), and I, Tomas Eastman, manage around 45 apartments here, with an occupancy rate oscillating between 80%-95%. For management, we have two models: fixed income or variable with commission. For the fixed income (sent to your account every month) we’re estimating around $900 USD.

The following apartment is one in the Blux building, which has a hotel license, thus allowing daily rentals legally.

If you have any questions, please be sure to let me know!

Tomas Eastman (tomas@casacol.co)

Property Features

  • 24 Hour Security
  • Building Age (5-10 years)
  • Close to public transport
  • Close to restaurants
  • Close to shopping
  • Close to supermarkets
  • Furnished Sale
  • Gym
  • Highly walkable location
  • Open concept kitchen
  • Pool
  • Roof terrace
  • Underground Parking

Map

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