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8 Bedroom Building In Graca, Portugal (ref. 31151307)
Date & Time Listed: 2018-08-06 19:11:04 (GMT)
Buildings for sale in Lisbon Portugal
Lisbon buildings for renovation
Alfama Building with 4 units with 318,44 m2 + 26,00 m2 for renovation for 1.175.000 €
I am referring to the character building, with incredible river views, in the heart of Alfama - Lisbon's oldest historical neighbourhood - with a total of 4 units with 318,44 m2, plus terraces and balconies, comprising the following units:
. ground level 2+1 bedroom apartment with 79,61 m2
. 1st level 2+1 bedroom apartment with 79,61 m2 + terrace with 12,50 m2
. 2nd level 2+1 bedroom apartment with 79,61 m2 + balcony with 1,00 m2
. 3rd level 2+1 bedroom apartment with 79,61 m2 + terrace with 12,50 m2
The top apartment has a unique terrace facing the jaw-dropping river views and that the 1st level has already been 'renovated' for AirBnB,
This unique building in a one-of-a-kind location is 1.175.000 € or 3.689 € per m2. I would estimate roughly 300.000 € for renovation costs
For you to have an idea of the resale prices today, the development (literally next door sold for well over 6.500 € per m2 (on average) about a year ago.
If you choose to renovate and hold the property, you stand to make a gross rental yield of 17,81% per annum or if you prefer 262.800 € per year at an average of 200 € per night per apartment.
If you consider 30,00% for costs, then you would net a very generous 12,47% net rental yield, meaning that you would have clawed back your entire investment in less than 10 years!
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* Low ppsqm
* River Views
This property is a Building for Redevelopment for sale.
Price: 1,175,000.00 EUR
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