About This Home

This 3-bedroom, 0-bathroom multi-family at 16 Rua Encosta Dos Magos #B in Canico, FL is listed for $1,590,000 ($1,124 per sqft). Built in 2023, the home offers 1,415 sqft of living space on a 0.07 acres lot.

Key Features

  • Built in 2023
  • 0.07 acre lot
  • 3 stories

Property Details

3 stories
3 full
#B
2023

Amenities

ViewA/C
Listing Description

Madeira's premier income-producing villa: legally ONE moradia (frao B) operated as 3 short-term suites - Crystal (56,728/yr), Amber (52,674/yr), Pearl (56,497/yr) with rooftop outdoor kitchen + 360 degrees ocean views. 2025 actuals: 165,899 / $194,102 gross at ~94% occupancy; 120,262 / $140,706 NOI = 7.07% cap rate at list.

Modern 2023 build, Class B energy. Each suite: 1 BR / 1 BA, fully furnished, kitchenette, private terrace; reversible interior partitions. Total 3 BR / 3.5 BA / 1,415 sqft. Registered Alojamento Local RNAL #160289. Canico, 8 km east of Funchal. ONE moradia, ONE AL license - three suites via reversible partitions. Operating statement in Documents (Private). International property; FIRPTA may apply.

Monthly Cost Estimate

$8,504/mo

20% down · 6.5% · 30 years

Principal$1,150
Interest$6,890
Insurance$464

Estimates only. Actual payments may vary.

Location

16 Rua Encosta Dos Magos #B

Canico, FL

Features & Amenities

Exterior Features

BalconyGardenOutdoor KitchenPrivate Rooftop Terrace

Property Details

Flooring

MarbleTile - CeramicWood

Construction

Concrete Stucco

Views

Ocean

Outdoor Features

Patio

Heating

Zoned

Cooling

Central AirCeiling Fan(s)

Questions & Answers

This 3-bedroom, 0-bathroom multi-family at 16 Rua Encosta Dos Magos is listed at $1,590,000 ($1,124/sqft). The estimated monthly payment is $8,504 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 2023, 0.07 acre lot, 3 stories. Exterior Features: Balcony, Garden, Outdoor Kitchen.

This property is listed by Viktoriia Volynets.

VV

Viktoriia Volynets

License 3474750

Agent at LoKation Real Estate

Listed by LoKation Real Estate · Broker phone: (954) 545-5583 · View on Broker Site · Broker website

MLS# B26026997· Source: BeachesMLS· 171 days on PropertySimple

Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

16 Rua Encosta Dos Magos #B, Canico, FL

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