A charming 2+1-bedroom apartment for renovation, located on the 1st level of an historical building in Chiado, opposite Bairro Alto and the Belvedere of São Pedro de Alcântara in Principe Real, which offers jaw-dropping views of the city, castle and river.
The future distribution (layout) for this 70,00 m2 apartment, which is currently a 2+1 bedroom apartment with a single bathroom, is very flexible given the existing layout. The apartment currently has two balconies on the front façade of the building. We would recommend creating a cosy 2-bedroom 2-bathroom apartment with additional outdoor space (terrace or patio) at the back of the property. We will gladly share some of our ideas, based on our experience and introduce you to the best architects or interior designers for the job.
The apartment still retains most of its original features, such as the tall ceilings, wooden floors, doors and shutters, which once restored will add much charm and character to the apartment. These can be blended with more contemporary finishing’s in the kitchen and bathrooms. The renovation costs should not exceed 50.000 €.
If you choose to have the developer roll out the turn-key (fully renovated to specification) project, then the end-selling price for the finished property is 330.000 €.
This is truly remarkable AA-location, in the heart of Chiado – certainly the most sought after district in historical Lisbon, which should tick all the “boxes”, independently of whether it is an investment or lifestyle choice. The property is located opposite a new 5-star hotel, due for inauguration soon, which will add great value to the property and the immediate location.
In terms of its rental potential the figures are truly remarkable. If you choose to rent out the apartment on a short-term basis, you can realistically expect a gross rental yield of roughly 14,00% or net rental yield of at least 10,00% per annum.
This means the apartment will have paid for itself in 10 years!
If you would like to learn more about the rental potential, please request a comprehensive investment brochure for this property or call one of our consultants. Floor plans are available on request.