Income-Producing Investment Building in Marbella Old Town

A rare opportunity to acquire an entire four-storey building in a prime location within Marbella’s historic Old Town, just steps from Plaza de los Naranjos and the Church of La Encarnación, and less than a five-minute walk from the beach.

The property offers 333 m² of built area and combines existing income streams with substantial potential for repositioning and value creation.

The ground floor comprises an approximately 100 m² commercial unit, leased to a third party and operating for the past 16 years. The current lease generates an annual rental income of €22,800 and runs until 2028.

The top floor features a penthouse with a valid short-term rental licence —VFT/MA/04059— which has operated on Airbnb for 11 years with Superhost status and an outstanding rating of 4.94 out of 5 from 175 reviews. The property also benefits from an impressive rooftop terrace of approximately 100 m², not included in the registered built area.

The first and second floors provide approximately 201 m² of additional space with considerable renovation and optimisation potential. They may remain in residential use or be considered for conversion into an accommodation project, such as a hostal or boutique hotel, subject in all cases to the relevant technical, planning and administrative approvals.

Key investment features include:

Income-generating operations from day one.

Entire building with no community fees.

Commercial unit with an existing lease.

Licensed tourist penthouse with a proven operating history.

Further renovation and repositioning potential.

Strategic location in one of Marbella’s most sought-after tourist areas.

Asking price: €1,500,000.

An attractive opportunity for investors seeking an urban asset with existing income, a verifiable operating track record and the potential to enhance returns over the medium ‌term.

Any ‌proposed ‌conversion ‌of the ‌first and second ‌floors, ‌together with the ‌investment and return ‌projections, must be confirmed ‌through the appropriate ‌technical, ‌planning, ‌legal ‌and ‌financial ‌due ‌diligence.

• Setting: Town, Commercial Area, Close To Shops, Close To Sea, Close To Schools.
• Condition: Renovation Required.
• Climate Control: Air Conditioning, Hot A/C.
• Views: Urban.
• Features: Near Transport, Private Terrace, WiFi, Storage Room, Near Church.
• Furniture: Optional.
• Kitchen: Fully Fitted.
• Parking: Street.
• Category: Investment.