Argüelles is one of the most consolidated residential neighborhoods especially attractive for the wealthiest families. The neighborhood boosts as reference points the Temple of Debod and the Paseo Pintor Rosales and is a favorite area for the upper class residents in Madrid.
It is important to note that the nearby Plaza de España will be totally refurbished which will have a significant impact on the real estate market in the surrounding neighborhoods Universidad, Argüelles and Palacio. The first signs are already evident of a significant market appreciation as a result of these plans.
The acquired building located in Calle Altamirano 10, a real architectural treasure with a special emphasis on the facade, has a total built area of 916 square meters with a total of 14 apartments and a commercial unit.
Urbania will proceed with capital investment including new elevators, improvement to the communal areas and rehabilitation of all the apartments. The objective is to sell the individual units once the rehabilitation is completed with a total project duration not exceeding two years.
The building offers an excellent investment opportunity and a substantial return on investment in the medium term.