Description

HISTORIC PROPERTY FOR SALE – CORNER OF CALLE SOL & CALLE PROGRESO, PONCE | $195,000 Built in 1914, this century-old property located at the corner of Calle Sol and Calle Progreso in Ponce combines the architectural character of the historic city with significant potential for rehabilitation and investment. Its arches, tall wooden doors, high ceilings, and original mosaic tile floors preserve distinctive elements of Ponce’s traditional architecture. The property sits on an approximately 372-square-meter corner lot and features approximately 2,466 square feet of masonry construction arranged in an “L”-shaped configuration, along with an approximately 1,538-square-foot patio that is primarily concrete. The existing layout consists of four apartments, each with its own kitchen and bathroom, plus one commercial space with a bathroom, for a total of five units with independent water and electric meters. The property also features two access corridors, approximately 8 feet wide toward Calle Sol and 3 feet wide toward Calle Progreso. Included with the property are plans documenting the current configuration, as well as certified and approved plans for improvements and the addition of a second level above the existing structure. Its configuration allows prospective buyers to explore several investment strategies, including long-term residential rentals, short-term accommodations, or a project combining residential and commercial uses, subject to applicable permits, approvals, and regulations. Given its age, architectural characteristics, and location, buyers may also evaluate whether the property could qualify for tax benefits applicable to historic properties, subject to eligibility requirements and approval by the appropriate authorities. A rehabilitation or development project may also be evaluated under the Ponce Onboarding program to determine potential eligibility for available incentives; such incentives require application and approval and are not automatically included with the purchase. The property is being sold in its current condition and requires repairs and improvements. Prospective buyers should conduct their own due diligence to evaluate its condition and determine the work required for their intended use. Offered at $195,000, the property may be purchased with cash or bank financing, subject to approval, and prospective buyers may also inquire about the availability of private financing. This is an opportunity for investors, developers, or buyers with the vision to restore and bring new life to a property with more than a century of history in Ponce.