Nestled in Madrid’s Centro district, this three‑unit apartment offering on Calle de San Millán presents a compact, income‑focused entry into the city’s rental market. Listed at USD 1,410,000, the asset comprises three side‑by‑side studio units (operating successfully as short‑term rentals), fully furnished and delivered in 2025 with modern finishes, air conditioning and elevator access.

Discovering the asset: a consolidated short‑let set in La Latina

As shown in the photos, each studio is arranged for independent occupancy with consistent natural light and neutral, durable finishes tailored for high turnover. The listing’s furnished presentation and turnkey setup are visible in the interior shots: compact kitchenettes, efficient sleeping areas and clean, contemporary bathrooms that align with guest expectations on Airbnb and similar platforms.

Key asset facts that matter to an investor: three units, three bathrooms, combined living area 1,615 sq ft, year of completion 2025, and elevator access — attributes that reduce operating friction and support higher occupancy. Spain Connect reports historical performance near 90% occupancy, which, if validated in due diligence, converts a central Madrid location into predictable cash flow rather than speculative upside.

How Spain Connect sourced and positioned this opportunity

Spain Connect’s approach is demonstrably market‑centric: they target neighbourhoods with structural demand (tourism, business travel, digital nomads) and seek assets that simplify management — in this case, three contiguous studios that share an address and operational framework. Their decade of local experience facilitates sourcing off‑market or early‑market listings and packaging them for international buyers who prefer consolidated exposures over single scattered units.

Value unlock through agency services

Spain Connect adds measurable value across three vectors: acquisition sourcing, regulatory navigation, and operational handover. For an investor in Madrid, access to accurate occupancy histories and guest reviews (both referenced in the listing) is essential to model forecasted cash flows. The agency also assists with local compliance — short‑let registration, tourist licenses where required, and VAT/IRPF considerations — reducing transaction risk for foreign buyers.

The images included in the gallery underscore Spain Connect’s emphasis on honest presentation: rooms are shown with typical furnishings and realistic daylight, enabling an investor to assess finish quality and potential refurbishment needs without over‑reliance on staged photography.

Market context: Centro / La Latina — demand drivers and risks

La Latina sits between Madrid’s core tourist circuit and dense residential corridors; its mix of gastronomy, historic fabric and transport links sustains year‑round short‑stay demand. For yield‑focused buyers, advantages include consistently high ADR (average daily rate) bands and near‑constant footfall. Countervailing risks to stress‑test include regulatory tightening on short‑lets, seasonal ADR volatility, and higher operating costs for guest turnover and cleaning.

When evaluating this type of product, quantify: net yield (post‑management and vacancy), capex reserve for cyclic maintenance, and break‑even occupancy at conservative ADR assumptions. Spain Connect supports buyers by sharing historical occupancy and review metrics; investors should replicate those figures independently through platform export or manager statements.

The investment case — measured analysis

At USD 1.41M for three furnished studios totalling 1,615 sq ft, the first analysis is price per square foot and implied yield versus traditional long‑let alternatives in Madrid. Short‑let portfolios typically deliver higher gross yields but also higher operating expenses and regulatory exposure. For prudent investors, Spain Connect’s documented ~90% occupancy is attractive only if gross revenue, management fees (often 20–30% for short lets), cleaning and platform commissions are modelled conservatively to reveal net yield.

Spain Connect can provide comparable transactions, past P&Ls and a recommended refurbishment budget (if applicable). Use those inputs to compute IRR scenarios over 3–7 years under varying ADR and occupancy assumptions rather than relying on headline occupancy alone.

Practical due diligence checklist for buyers

Essential checks before committing: verify the short‑let licence status, inspect guest review history and booking export reports, obtain actual utility and community (HOA) fees, confirm lift and building compliance certificates, and request a 12–24 month P&L that separates gross bookings from platform fees and refunds. Spain Connect can coordinate document collection and recommend local legal counsel and tax advisers.

Operational considerations

For multi‑studio assets, centralised management (single manager handling bookings, cleaning, and key exchange) reduces per‑unit costs. The property’s elevator and recent build date (2025) mitigate refurbishment risk and support guest comfort — both visible in the property imagery — which helps sustain repeat bookings and strong review scores.

Conclusions and next steps

This consolidated three‑studio asset in La Latina exemplifies Spain Connect’s sourcing discipline: compact, operationally efficient units concentrated in a high‑demand micro‑location. For international buyers seeking immediate cash flow with a manageable operational footprint, the property merits deeper financial stress‑tests and regulatory confirmation. Spain Connect’s decade in Madrid positions them to provide the required documentation, local compliance support and management handover to convert this listing into a working income stream.

Next steps we recommend: • Request exported booking and occupancy data for the last 24 months. • Obtain a detailed P&L breaking out platform fees, cleaning, and management costs. • Commission a short legal review on short‑let permissions and tax implications for non‑resident owners. • Ask Spain Connect for comparable sales in Centro and a projected net yield model under conservative ADR/occupancy assumptions.

To discuss this Madrid opportunity and obtain the full data pack, contact Spain Connect through their Madrid office. Their on‑the‑ground experience and operational relationships are the practical advantage international buyers need when converting an attractive listing into a disciplined investment.