$2,195,000
Rare 8-unit historic income property in the heart of Miramar, one of San Juan's most walkable and sought-after neighborhoods, minutes from Condado, Old San Juan, and the Convention District. Currently operated as a successful short-term rental with approximately 70 average occupancy and reported 2025 gross income of $387,523 and NOI of $205,752 (seller-provided).
The front building (approx. 5,880 sq ft) offers five 2-bedroom units across three floors. Four units on the lower two floors have interior connecting doors, allowing flexible 2-bedroom or combined 4-bedroom layouts for groups and families. The third-floor unit features front and rear balconies, ocean and city views, laundry and storage rooms, a lounge/dining area, and a hot tub. The rear building includes two studios plus a second-floor 1-bedroom manager's unit with additional laundry.
Recent improvements include new Miami louvered windows, a concrete roof sealed in September 2025, mini-split A/C units (2 to 3 years old), and electric water heaters (1 to 3 years old). The property has a 1,000-gallon water cistern, five electric meters, three washers and three dryers, landscaped passageways with artwork and café-style seating, one gated side parking space, and a separate gated driveway for approximately five vehicles.
Designated historic building, reported as property-tax exempt. Upside through occupancy, expense optimization, and digital marketing. Buyer to verify all income, expenses, square footage (rear building not measured), permits, zoning, use, and tax exemption.
PR9124980
MLS
610 Calle Hoare, San Juan
