Beachfront Apartment and Hostel in Rio Vermelho, Salvador

Details

Beachfront Apartment Salvador: located in Rio Vermelho, upper floor, calm street, usable as residence or hostel

General Description:

For sale is a beach front apartment in Rio Vermelho, one of the most prosperous districts of Salvador, representing a great investment opportunity.

A 4-floor property, being the 4th floor a terrace, beach front located in one of the main touristic and best developed areas in Salvador.

Rio Vermelho neighborhood has a wide array of options such pubs, clubs, restaurants, beaches and one of the main nightlife circuits of the town. The property is located at Praia da Sereia, in a very calm street surrounded by local neighbors and businesses – like restaurants, groceries and bars.

Also, the apartment is 1.4 KM away from the Barra-Ondina carnaval circuit; 6 KM away from Pelourinho and historic center; 3.3 KM away from Farol da Barra and 1.2 KM away from Largo de Santana, which makes the place greatly coveted by tourists (national and international) during high seasons and all year long.

There is also the possibility to use it as a hostel that accommodates up to 16 guests, with: 2 bedrooms (10 and 6 bunk beds) with dedicated bathroom each; 1 living room with kitchen and bathroom, sofa, TV and sea view window; top floor terrace with full sea view, chairs and reclining chairs. There’s also a laundry area on the top floor.

The house can be converted to different business setups and modalities, such as a Hostel(currently), a guest house, co-working space, private house for rent, or 3 independent apartments.

Annual tax – IPTU: R$ 1.932,32
Address: 12E Rua Pedra da Sereia
Postcode: 41950-020
City: Salvador
State: Bahia
Country: Brazil

The documentation is 100 % in order, with escritura publica (public deed) and General Register (RGI).

We at Real Estate Brazil accompany clients during the sales process and provide encompassing consulting services.

Our partners at Campedelli Advogados (São Paulo) also provide legal assistance (documentation, funds transfer, investor´s visa).

Observations:

1. This apartment is exclusively for sale, not for rental of any kind.
2. It is recommended that prospective buyers conduct a visit of the property with a subsequent diligence in order to make an informed decision on whether to proceed with the purchase. It is however expected that the prospective client has the necessary financial means to purchase. It is important to note that Brazilian banks or in general financial institutions do not give, under any circumstances, loans or mortgages to foreigners. Also, it is very rare that European or American banks concede loans or mortgages for purchasing real estate in Brazil. It is thus indispensable to have the proper capital in order to effectuate a purchase.
3. The buyer/investor does not pay any kind of commission to the realtor in Brazil – the commission is strictly the responsability of the seller. However, the buyer is responsible for paying the notary costs as well as the ITBI (Imposto de Transmissão de Bens Imóveis – the property transfer tax) which ranges, depending on the state, between 2 – 3 %.