A charming 2+1 bedroom duplex penthouse apartment for renovation with 116,61 m<sup<2, located on the 3rd level of an historical building in a tranquil “cul-de-sac” by the Sé Cathedral and São Jorge Castle.

The building comprises just six units or two apartments per level. The property is currently distributed as follows: the lower level comprising a sunny living room (with views to the neighbouring courtyard and garden), large master bedroom with an en-suite bathroom, a bright kitchen and a further two divisions, one of which can be used as a bedroom, as it is by the living room and the other as a dinning room or storage area, as it is located by the kitchen. The top level (attic area) comprises the 2nd bedroom, living room (leisure area) and a spacious bathroom. All of the divisions have their own natural light, which makes the apartment very bright (photographs taken on a rainy day) and even more charming.

The apartment is perfectly habitable, even though it is a little dated (bathrooms and kitchen). In fact, the apartment is currently tenanted, although it is sold vacant.

The degree of renovation works required will depend largely on one’s personal requirements. Should you wish to rent out the property on a short-term rental basis (highly recommended), minimal works are required. However, if the property is more of a second home, then more comprehensive renovation works would probably make more sense. A complete renovation of this apartment should cost under 50.000 €.

This is indeed a “one-of-a-kind” location! Located, no more than 50 metres from the Sé Cathedral – one of Lisbon’s charismatic monuments and a short walk from the Castle and the Alfama Belvedere, this apartment is an ideal lifestyle and investment option. The ruins of the ancient Roman Theatre are just up the road too.

In rental yield terms this apartment is a genuine gem. Even considering a complete renovation, this apartment will rake in a healthy 15,00% gross rental yield or  a 10,00% net rental yield, if you deduct the rental and running costs (roughly 35,00%).

Furthermore, at just over 2.000 € per m2 this is truly a rare opportunity for any savvy investor… not to be missed!

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Property Features

  • One-of-a-kind location
  • Tenanted