New-build two-bed corner apartment, 10-minute walk to the beach, Orihuela Costa

Second-floor corner apartment in a closed residential complex in Orihuela Costa — Costa Blanca Sur, ten minutes’ walk from the beach and two minutes from the nearest supermarket and bus stop. The building is 2024 delivery, the unit is fully furnished, and nothing about it needs work before the first booking.

79 m² built, two bedrooms, two full bathrooms, an open-plan kitchen-living room with marble worktops and a southeast orientation that pulls morning light into the main living space. Underfloor heating, central air conditioning, electric blinds, fibre-optic internet, fitted wardrobes, security door. Underground parking and a storage room come with the asset.

Location — why Orihuela Costa works as a yield play

Orihuela Costa is the strip of coastal urbanisations south of Torrevieja — Playa Flamenca, La Zenia, Punta Prima, Cabo Roig — that does the bulk of the Costa Blanca’s family-rental volume on Airbnb and Booking. Demand is structurally split between two cohorts: northern European summer holidaymakers in July and August, and shoulder-season golfers and long-stay retirees from October through April. The two cycles overlap to keep occupancy above 60 % across the year on well-located 2-bed product.

The walking distance to the beach is the single most important variable on a 2-bed STR file in this market. Ten minutes is inside the band that the OTA platforms still surface as “close to beach” — past fifteen minutes the nightly rate ladder drops materially. The surrounding amenities (supermarket two minutes, golf five minutes by car, motorway connection to Alicante and Murcia within reach) round out the convenience profile guests search for.

Rental model — indicative numbers at €339,000

The figures below are how we’d underwrite this unit on day one of letting under short-stay, no fit-out upgrades. The unit is already fully furnished to a guest-ready standard, which removes the typical €8–12k setup cost on equivalent shell units. The aim is to give you a defensible floor, not a sales projection.

• Blended ADR ≈ €115 / night — weighted across high season (€150–180), shoulder (€100–130) and low season (€70–90). 2-bed Orihuela Costa product caps at the upper end of the family-of-four nightly band.
• Annual nights booked ≈ 230 (63 % occupancy) — typical for a well-located 2-bed inside the 10-minute walk-to-beach band.
• Gross rental income ≈ €26,500 / year.
• Operating costs ≈ €14,500 / year — OTA fees (~10 % blended), cleaning, utilities, supplies, 15 % management, IBI (€250 — very low on the new-build cadastral), community (with pool, garden and playground), STR insurance, licence and accounting, plus a 0.5 % maintenance reserve. The 2024 build means near-zero reactive maintenance through the first 5–7 years.
• Net rental, pre-tax ≈ €12,000 / year.
• Gross yield on asking price ≈ 7.8 %.
• Net yield, pre-tax ≈ 3.5 %. Modelo 210 at 19 % on net (EU/EEA-resident profile) trims that to ≈ 2.8 % post-tax. For UK / US / Swiss residents on the 24 %-on-gross non-deductible regime, the post-tax cash yield falls to ≈ 1.7 % — a swing big enough to be a structuring conversation, not a footnote.

For comparison, a long-term residential lease on this unit underwrites at roughly €1,100 / month gross (≈ €13,200 / year, furnished, 12-month contract), netting to ~3.0 % pre-tax once costs and IRPF/Modelo 210 are applied. Short-stay wins by ~50 basis points net on these assumptions, and the lower-ticket size means the operational drag is easier to absorb than on the larger units.

Why this file sits in the book

• Entry-ticket investor case. €339,000 is roughly the entry tier of the Costa Blanca investment book. Buyers who want one unit on Costa Blanca to test the management cycle before scaling typically buy at this size class.
• New build with the furniture done. Skipping the €8–12k furniture and setup line that an equivalent re-sale carries puts the unit one step closer to first-booking-day on the bank model.
• Two-cycle demand profile. The summer + golf split on Orihuela Costa keeps occupancy out of the single-cycle volatility band — the case is less dependent on any one segment performing.

How we run the file

Asking price is €339,000 as currently advertised. The full investment memo — net yield modelled to your tax residence, Modelo 210 setup, plusvalía exposure, short-stay licence path — is part of the discovery-call deliverable. The unit carries no current tourist licence on the listing we reviewed; the community-of-owners position on tourist rentals is the first thing we confirm against the building file before arras.

What we still verify together

• Short-stay licence path in this specific urbanisation — the Orihuela municipality permits VT registration on most of the Costa stock, but community-of-owners minutes can block it on a per-building basis.
• Your tax residence so the modelled net yield is built on the right deduction profile, and personal-name vs. Spanish-SL acquisition vehicle.
• Whether the furniture package as inventoried is included at this price — most fully-furnished resales include it, but it’s worth nailing on the arras.