Lisbon character building for renovation
A charming historical building with 3 levels (ground, 1st and 2nd level), located on a tranquil cul-de-sac in the heart of Principe Real, no more than 100 m from the high street and Botanical Gardens.
The building with a total build size of roughly 415,00 m2 is currently organized into 3 apartments as follows: two 4-bedroom apartments on the raised ground and 1st levels with 165,00 m2 and 146,00 m2 respectively, plus a sunny 104,00 m2 penthouse apartment and terrace on the 2nd level. Each level has private outside space, i.e. either a balcony or terrace and abundant natural light.
The building, which retains the original character, is in excellent condition and perfectly habitable. It needs perhaps a little TLC or an upgrade to the kitchens and bathrooms, which are lined with “extinct” pebble-marble from the Arrábida Mountains. Please refer to the photographs of the property.
If you would like to harness the full potential of this unique building, it is possible to “re-instate” the previously approved renovation project, which included the addition of basement parking, elevator and an additional level (new 3rd level). If you would like to receive a copy of the previously approved renovation project, please use the contact form below.
This location is superb! Close enough to the high street of Principe Real and vibrant Bairro Alto or the more sophisticated Chiado, yet set on a tranquil cul-de-sac where you wake up with the birds singing. The closest metro station (Rato) is roughly 250 m away.
In terms of the rental potential, assuming the current layout was maintained (i.e. 3 units), the rental yields would be “mind-boggling”. Conservatively speaking, you would claw back your entire investment in less than 10 years.
Imagine what would happen if you added the extra level!
- 8-12% Yields ! Rare
- Central Heating
- City Views
- Storage space