Apartment in Palma – High Yield Investment

This bright apartment in Palma offers a unique investment opportunity with a high yield potential. Recently renovated by the owners, the property features a versatile layout. It includes three bedrooms and a separate apartment unit, making it ideal for rental as a shared living space or a cozy family home. The apartment boasts vintage-design tiles in the kitchen, PVC windows with double glazing, and a beautifully ornate stucco ceiling in the living area. Gas heating ensures comfort, and good parking is available in front of the house.

The apartment is conveniently located within walking distance of the charming old town. The living space is thoughtfully laid out with an entrance area leading to two bedrooms, one single and one double room with a large window front. The living room connects to another spacious double room with a balcony and a semi-open kitchen. A small hallway leads to a bathroom with a shower. Another door opens to a large room with living, sleeping areas, a kitchenette, and an en suite bath. The building also features a communal terrace.

Located in the vibrant Pere Garau district of Palma, this neighborhood is just 15 minutes on foot from the city center, Plaza Mayor. Pere Garau is known for its authentic charm and the bustling Mercat Pere Garau, the most genuine market in Palma, offering more affordable prices than other markets like Mercat Olivar. The market is open from Monday to Saturday and features a lively atmosphere with numerous stalls selling fresh produce, flowers, and local Mallorcan products. Its a great place to experience the local culture and cuisine.

Though not a tourist hotspot, the area provides access to the stunning Passeo Maritimo and Playa de Palma near the Portixol harbor, perfect for those who enjoy the sea. Residents can also enjoy a variety of international cuisines, including Asian influences, reflecting the diverse community. The location is ideal for those seeking a genuine Mallorca experience with convenient access to both cultural and natural attractions.

Trash collection fee is 126 Euros annually, property tax (IBI) is approximately 260 Euros per year, community costs are 30 Euros monthly. The buildings facade renovation is planned but pending residents decision.