El Palo, Malaga - Este, Costa del Sol, Malaga

High-Yield Investment in El Palo: Townhouse with 2 Independent Units & Tourist Licenses

€ 585.000

Description

In the heart of the charming fishing neighborhood of El Palo — one of Malaga’s most in-demand areas with extremely limited inventory — lies this renovated townhouse. It represents a unique market opportunity combining modern design, versatility, and high yield potential. The property is divided into two completely independent levels with private entrances, offering flexible usage options. You can choose to rent both out as holiday rentals, live in one while renting out the other, or use the entire building as a spacious single-family home. The ground floor features a bright living room with an open-plan kitchen, a master bedroom with a newly renovated en-suite bathroom, and a cozy private patio that provides abundant natural light and great ventilation. Furthermore, there is extra potential to easily reinstate a second bedroom. The first floor accommodates a living room with a stylish integrated kitchen, two bright and spacious bedrooms, and an elegant, fully renovated bathroom. From the first floor, you reach a fantastic private rooftop terrace designed as a secluded oasis. The terrace offers a generous layout perfect for barbecues, lounge furniture, and social gatherings, an elevated solarium with lovely views of the Mediterranean Sea, and a practical built-in storage room. The property holds a valid tourist license, guaranteeing rental income from day one with high occupancy rates year-round. It has been renovated in a modern, functional style with air conditioning installed in both apartments. El Palo retains its authentic Spanish fishing village charm, featuring long sandy beaches, famous chiringuitos (beach restaurants), a wide range of amenities, and convenient connections to Malaga's historic center. This is a turnkey property in an area where availability is virtually non-existent. The property has recently undergone a renovation. All electrical and plumbing installations are new. The facades have been restored and waterproofed, and new windows and doors have been installed throughout. On the ground floor, extensive groundwork was performed, including a complete floor excavation and new drainage piping. The exterior walls have been restored, insulated, and rebuilt with brick cavity walls for optimal moisture control and thermal insulation. The floor plan was opened up and reconfigured by moving non-structural walls, while both the kitchen and bathroom were enlarged and completely rebuilt. The upper floor has also been upgraded with new uniform flooring throughout, a more open feel between the entrance and kitchen, and renovated kitchen and bathroom facilities.