206 206 CALLE SAN JUSTO, OLD SAN JUAN PR 00901, San Juan, San Juan 00901

206 San Justo, San Juan PR 00901. For sale upstairs only with lobby street level entrance for a 30 room hotel development or luxury apartments-Flrs. 2,3,4 & roof top + views. There is a tourism tax incentive of 40% tax credit on the purchase price with the total rehabilitation, as well as marketing and labor.  (Example with tax credit purchase $5M + $5M rehab = $10M total minus 40% tax credit of $4M that can be sold in the open market for $3.5M = Net cost of $6.5M against a property that would be worth at least $13M+ If you use a leverage and purchase with $1M cash down payment you will get over $6M in net return in 2.5 yrs). Possible partnership with qualified experienced local developers only . Buyer Agent fee 3%. For showing instructions, please see MLS notes. GPS 18.464817, -66.117043..