Tourist License Allowed I 5-Room Penthouse with Guest Suites & Huge 360° Terraces – El Paraíso, New Golden Mile A rare opportunity to acquire a highly versatile 5-room penthouse with exceptional 360° wraparound terraces, 2 independent guest suites and significant potential to create a unique home or investment property in the El Paraíso area of Marbella's sought-after New Golden Mile. Tourist licences are obtainable, adding further potential for buyers considering holiday rental or income-generating use, subject to applicable requirements and approvals. Positioned within walking distance of the beach, close to Masala and with convenient access to the A-7, the property is surrounded by established residential communities, villas and amenities. Marbella, Puerto Banús and Estepona are all within easy reach, together with golf courses, restaurants, beach clubs and everything the Costa del Sol lifestyle has to offer. The current layout comprises a private 5-room penthouse residence with expansive front and rear terraces that combine to create an exceptional 360° wraparound outdoor living environment. Surrounded by mature greenery and enjoying excellent privacy, the accommodation currently includes 2 bedrooms, 2 bathrooms, a substantial separate office and 2 independent guest suites. The large office is currently used for storage, with visualisations available demonstrating its potential transformation. Depending on the buyer's requirements, it could remain a private office, studio or workspace, be transformed into an additional room, or potentially be incorporated into the main residence to create additional living accommodation, subject to any necessary approvals. The property also benefits from 2 independent guest suites, each with its own private shower facilities. These highly versatile spaces provide excellent possibilities for guests, extended family, staff accommodation, independent guest lodging or short-term rental use. They may also offer the possibility of being incorporated into the main residence, creating a substantially larger family home if desired and subject to any necessary approvals. One of the property's most exceptional features is its extensive private terrace space. Rarely found in this location, the expansive front and rear terraces provide multiple areas for outdoor dining, entertaining, relaxing and enjoying Marbella's year-round climate. There is no community swimming pool; however, the exceptional size of the private terraces provides the possibility for an owner to install their own portable above-ground pool or Jacuzzi, if desired and subject to any applicable requirements. A designer visualisation illustrates how a private terrace pool could potentially transform the outdoor living space. The generous terraces also create exciting possibilities for additional lounge and dining areas, wellness spaces, entertaining zones and other lifestyle features. Whether envisioned as a spacious private residence, multi-generational family home, property with independent guest accommodation, holiday home or income-producing investment, the flexibility of the existing layout offers numerous possibilities. While certain areas would benefit from refurbishment and modernisation, this is also where much of the property's potential lies. Few penthouses in this part of the Costa del Sol combine such extensive private outdoor space, independent guest accommodation, privacy, flexibility and future value-add potential within walking distance of the beach. Features • Private 5-room penthouse residence • 2 bedrooms • 2 bathrooms • Large separate office / potential additional room • 2 independent guest suites with private shower facilities • Exceptional 360° wraparound terraces • Expansive front and rear outdoor living spaces • Potential for a private portable terrace pool or Jacuzzi • Designer visualisation showing potential terrace pool • No community swimming pool • Tourist licences obtainable • Short-term rental potential • Walking distance to the beach • Excellent privacy • Street parking available directly outside • Renovation and value-add potential • Flexible internal configuration • Multiple future use possibilities • El Paraíso, New Golden Mile location • Close to Masala ‌and ‌convenient ‌access ‌to ‌the ‌A-7 • Easy ‌access to ‌Marbella, Puerto ‌Banús and Estepona Some images ‌‌have been ‌professionally ‌‌staged to ‌illustrate ‌the ‌lifestyle ‌‌and ‌‌design ‌‌potential ‌‌of ‌‌the ‌‌property. Read Less