Located in the Capuchinos district of Málaga, this project involves a five-story building comprising six apartments and a ground-floor commercial unit. Spanning approximately 420 m², the property is offered as a renovation opportunity for investors. The location is urban-central, within walking distance of the historic center, the university, and the hospital. The property includes the option to convert the commercial space into residential use, potentially creating a yield of seven to eight units.
Key characteristics of location, homes, project phase and points of attention.
The project is situated in Capuchinos, an urban neighborhood within the municipality of Málaga. The location is defined by its direct connection to the city; the historic center and university are within walking distance. It is an area undergoing development, featuring a mix of traditional architecture and modern urban renewal. Amenities such as supermarkets and pharmacies are located immediately nearby.
This project is focused on redevelopment and is not suitable for immediate owner-occupation without renovation. For investors, it offers the opportunity to create a portfolio of multiple units in an area with high rental demand. Proximity to educational institutions and healthcare facilities makes it attractive for the rental market. The presence of an elevator and rooftop terrace adds to the comfort for future residents.
Although existing construction, the plan involves a comprehensive refurbishment. The planning includes optimizing the six existing apartments, changing the use of the commercial unit, and renovating all common areas. No major structural works are required. Completion is expected by the end of 2025, delivering all apartments move-in ready and compliant with current regulations.
The project is offered as a renovation object. The price mentioned is a guideline; depending on the chosen finishes and the scope of the renovation, costs may vary. Given the urban location, outdoor space is limited to the communal rooftop terrace; there is no private swimming pool or garden. Parking is typical for an urban environment.
This project suits investors looking for a value-add strategy in a prime urban location. It is suitable for parties who see the potential to convert the commercial space, which can significantly increase returns. It is also interesting for those looking to capitalize on the demand for short-stay rentals near the historic center. The buyer must take into account a renovation trajectory until the end of 2025.
The building requires a full renovation. The current state is that of an existing building that needs to be modernized. The renovation plan includes carrying out all installation works in accordance with current building regulations. There is a 'change of use' for the commercial space, requiring technical expertise. Upon completion, the building will feature an elevator and a renovated rooftop terrace.
The asking price for this project is €1,200,000. This amount relates to the entire property including the commercial space. There is a turnkey price indicated for the renovated state, as well as an option for purchase without renovation. Prices for real estate in the center of Málaga vary strongly depending on the state of maintenance and yield potential.
Capuchinos is a dynamic city neighborhood on the rise. Daily life here is determined by the proximity to the city center and the presence of various amenities within reach. For future residents, this means a living environment where much can be done on foot or by bicycle. The neighborhood serves a function for the city, with affordable dining and local shops, and is close to Málaga's historic sights. The presence of the University of Málaga ensures a young demographic dynamic.
The living environment is urban and practical. Within a 500-meter radius, there are hundreds of restaurants, shops, and medical facilities. Public transport is nearby with multiple stops in the immediate vicinity. The neighborhood offers a quick connection to Málaga's main roads. For daily groceries, there is a supermarket less than 100 meters away.
The map shows the central location in Málaga, between the historic inner city and the university district. Distances to the beach and the airport are clearly visible.
Capuchinos is located in the heart of Málaga city. The neighborhood is not a tourist resort, but an authentic city district. The position is central to the main roads and major AVE train stations. It is a base for the rest of the Costa del Sol, with highways to Marbella and Granada nearby.
Accessibility is excellent. La Malagueta beach is located 1.8 km away, which is a 20-minute walk as the crow flies. Málaga Airport is accessible at a distance of 9.1 km. For golfers, Club de Golf Málaga Parador is the nearest course at 9.6 km. An EV charging point is present on the street at 371 meters distance. A pharmacy is nearby.
| Valencia (VLC) | 299 km |
| Alicante-Elche (ALC) | 336 km |
Source: OpenStreetMap, Google Maps
Málaga has a mild climate with an average annual temperature of 17.5°C. There are approximately 3,785 hours of sunshine per year. The swimming season lasts about four months. The Capuchinos neighborhood itself is urban and built-up; the focus here is on city dynamics and direct access to facilities, rather than quiet nature.
Source: Open-Meteo (2020–2025 average)
The nearest beaches are Playa de la Malagueta and Playa de los Baños del Carmen. These beaches are a short distance away and accessible by bicycle or on foot. The beaches have various facilities. For sports recreation, there is the Málaga Parador golf course, as well as various gyms in the city.
Source: OpenStreetMap
Capuchinos is located in the heart of Málaga city. The neighborhood is not a tourist resort, but an authentic city district. The position is central to the main roads and major AVE train stations. It is a base for the rest of the Costa del Sol, with highways to Marbella and Granada nearby.
| Month | Avg. Temperature | Rainfall |
|---|---|---|
| January | 11.3°C | 41 mm |
| February | 11.6°C | 32 mm |
| March | 13.8°C | 44 mm |
| April | 15.8°C | 55 mm |
| May | 19.0°C | 21 mm |
| June | 22.8°C | 13 mm |
| July | 25.7°C | 3 mm |
| August | 26.3°C | 28 mm |
| September | 23.3°C | 38 mm |
| October | 19.8°C | 43 mm |
| November | 14.8°C | 72 mm |
| December | 12.1°C | 46 mm |
Ref: VL289323
Source: Wikipedia, Wikidata, INE, Junta de Andalucía
Compared to new build projects on the coast, such as in Mijas or Fuengirola, this project offers a different value proposition. While projects like Arosa or Waterfall Residences are often focused on the holiday market with luxury resort facilities, this targets the permanent city resident and the student market. The price per m² in the city center of Málaga is often higher than in the suburbs, but potential rental yields are consequently also structurally higher and stable throughout the year.
Maiko is a real estate expert specializing in the Spanish property market. With in-depth knowledge of the Costa del Sol, Costa Blanca, and other popular coastal regions, he helps buyers find the right property. He analyzes listings based on location, market value, build quality, and livability, providing honest, data-driven advice throughout the entire purchase process.
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