This 48m² apartment is for sale on the 5th floor in the renowned Hotel Goldstar, a four star hotel located in the middle of the Carre d'Or and five minutes walk (250m) from the beach. It has a bedroom, living room, small kitchen and bathroom. It is in excellent condition through-out.
The apartment is owned freehold but has a lease with the hotel which gives an after-tax income of €10,034 per annum, paid quarterly to the owner. This agreement expires in December 2015, under a business lease that renews every nine years. The rental yield is currently 4.35% guaranteed the asking price.
As well as the income from rent, the owner also receives up to 10 days of use per year. The "Ambassador Suite" rents up to €450 a night in high season. Ten days in July is listed on Booking.com at €4,500. If the owner takes advantage of the high season, the yield is over 6%!
During the stay in the apartment, the owners get to use the spa, sauna, rooftop heated pool, solarium and bar. The residence is rated 8.3 out booking.com and 76% (ranked 28/ 213) on Tripadvisor.
This property makes an ideal investment and holiday apartment: a good yield without the difficulty of maintenance or finding a management company for property, along with a great vacation spot in Nice.
Click here to learn about Carre d'Or
The Carré d'Or, or "Golden Square", is prime Nice real estate. It is full of chic bars and designer stores, and nowhere is more than 5 minutes walk to the beach. One of the most rentable areas in Nice, it is a favourite with investors and those seeking a pied-a-terre.
Advantages for a holiday home
- Next to the beach, bars and restaurants
- Easy to resell when time to upgrade
- Can rent out summer and use spring / autumn
Disdvantages for a holiday home
- Communal areas often average
- Less size for your money
Advantages for investors
- Most popular rental area
- Next to the beach
- Surrounded by shopping and restaurants / bars
Disdvantages for investors
- None, but get a balcony if possible