Madrid Capital, Community of Madrid 28013

FLAT WITH BALCONIES FOR TOTAL RENOVATION AND HOTEL LICENCE IN PALACEIn the heart of Madrid de los Austrias, this spectacular property of 220 m is in a privileged location, surrounded by the city's most iconic landmarks, such as the Almudena Cathedral, the Plaza Mayor and the Teatro Real. Situated in a historic building dating back to 1880, the property offers a perfect combination of history and investment potential, with views from three elegant balconies overlooking the Calle Mayor.The flat comes with a hotel licence, an invaluable asset for those looking to take advantage of the high tourist demand in this area. Operating successfully as a guesthouse since 1974, the property currently has 10 bedrooms, five full bathrooms, a guest toilet and two additional bathrooms equipped with shower and washbasin.The building has had a full plumbing refurbishment in 2024, ensuring an up-to-date infrastructure. Central heating provides comfort during the cold months of the year.Thanks to its generous layout, the property offers multiple possibilities for refurbishment and functionality:- Investors can choose to transform the property into modern coliving, divide it into mini-studios for short-term rental, or even redevelop it to offer self-contained tourist flats, all backed by the valuable hospitality licence which allows for a variety of commercial uses. The location is unbeatable: just steps away from the vibrant San Miguel Market and the Royal Palace, with an exceptional cultural and gastronomic offer that attracts both residents and tourists. Its proximity to the main points of interest in the centre of Madrid ensures high occupancy.- For those looking to create a spectacular home, this property offers unrivalled potential. The spaces can be reconfigured to design a luxury residence that takes advantage of the high ceilings, the natural light from the balconies and the original details of the building.- In addition, there is the possibility of splitting the property into several units, leaving a large main flat for the owner and one or two additional flats for rental purposes, offering flexibility and an excellent opportunity to generate additional income.In short, this property is a unique opportunity for investors or end buyers looking for a property with great flexibility, and high profitability potential. Whether to continue with the hotel business, create a luxury private residence or develop a coliving or short term rental project, this property has all it takes to become a strategic investment in the heart of Madrid.Can you imagine living here? Ref. VM2411062