261 San Sebastian #259, San Juan, PR 00901

Introducing 259–261 San Sebastián — Old San Juan’s most extraordinary estate, combining luxury living, unmatched historic charm, and powerful tax incentives that make it one of the most profitable real estate opportunities in Puerto Rico. Listed by: Samantha Telvi — Real Estate License C-26090 Situated across an entire block and masterfully integrating two fully restored Spanish-colonial buildings, this one-of-a-kind property offers 6,538 sq. ft. of interior living space and 3,537 sq. ft. of outdoor areas, including breathtaking ocean and bay views. The estate features 12 bedrooms, 10 bathrooms, dual entrances, and expansive courtyards ideal for entertaining, relaxing, or luxury hospitality use. Historic Ruins — A True Rarity A signature highlight of the property is its stunning historic ruins, preserved and integrated into the outdoor spaces. These ruins offer an incomparable backdrop for events, private enjoyment, or boutique hospitality use—there is simply nothing else like this in Old San Juan. Maximum Flexibility: Residential, Guest House, or Hybrid Living This estate provides unique usage options: Live in one building and rent out the other, creating both privacy and steady income. Operate as a Guest House, as all permits have already been approved. Use as a single-family luxury residence. STR Income Already Producing Over $300,000+ Per Year The property is already listed on short-term rental platforms and consistently generates over $300,000 per year, making it a turnkey, income-producing asset from day one. Buyers may continue operations immediately or pursue further expansion using the approved permits. Major Tax Benefits & 40% Tourism Tax Credit on the Sale Price This property qualifies for Puerto Rico’s most powerful tourism incentives—including the 40% tourism tax credit directly applicable to the sale price, dramatically reducing your effective purchase cost. Additional tourism incentives include: 40% credit on eligible investment (first portion in year 2 of operations) 30% credit option (10% at financing approval, 20% upon first paying guest) Up to 75% exemption on municipal construction taxes 100% exemption on sales and use tax (IVU) Up to 50% exemption on municipal excise taxes Income tax rate as low as 4% for tourism operations Up to 75% municipal property tax exemption (100% for certain regions) 100% exemption on fuel used to generate electricity These incentives can dramatically enhance ROI, making this property ideal for investors seeking high returns with substantial tax advantages. CRIM Exoneration for 10 Years Because the property passed the Institute of Culture inspection, it benefits from a 10-year CRIM property tax exoneration, significantly reducing annual carrying costs. Timeless Architectural Elegance Every space is bathed in natural light, framed by arches, antique tiles, exposed wood beams, and open-air courtyards. The gourmet kitchen, centered in the main courtyard, flows seamlessly into outdoor dining and lounging areas, perfect for al-fresco entertaining. Prestigious Location Located in the heart of Old San Juan—steps from La Fortaleza and the UNESCO World Heritage Site of the San Juan National Historic Site—this residence sits within one of the Caribbean’s most important, charming, and historically rich districts. Viewing Information The property is currently leased; 48-hour notice is required for showings.