Apartment for sale in Foners, Palma de Mallorca, Mallorca

Reference: 1072410

Investment opportunity in Foners, near the Convention Centre and the sea

The building’s first floor (100 m²) is for sale, subject to a current tenancy agreement, making it an excellent long-term investment opportunity.

100 m² apartment to renovate, with potential for vacant possession and significant appreciation

Located in Palma’s sought-after Foners area, just a few minutes’ walk from the beach, the seafront promenade and the Convention Centre, this 100 m² first-floor apartment offers enormous potential for transformation.

A strategic property, ideal for both long-term investors and private buyers seeking a tailor-made home by the sea with excellent transport links. As the property requires major renovation work, including repairs and refurbishment of the roof, it is currently unoccupied. The municipal permit application process, estimated to take between 9 and 12 months, will allow the early termination of the tenancy agreement to be negotiated with the tenants, opening the way for the property to be delivered vacant and unoccupied when work begins.

Why is this an excellent opportunity?

Strategic coastal location: Steps from Ca'n Pere Antoni beach, the Convention Centre and Palma city centre, in an area with strong potential for residential growth and premium rentals.
Potential for early possession: The need for major renovation work and the property’s current unoccupied status make it easier to negotiate possession before 2029.
Time to obtain permits: The time required to process the major works permit allows the architectural and interior design project to be planned at a relaxed pace.

Appreciation after renovation: Structural work and a complete interior renovation, including the kitchen, bathrooms, utilities and finishes, will position the property as a highly sought-after home in a coastal area that continues to appreciate in value.

Current layout (100 m²)

3 spacious bedrooms.

1 full bathroom to renovate.

Separate kitchen.

Rear gallery / laundry area with excellent cross-ventilation.

Elegant building with few residents and convenient access (1st floor).