Building in Principe real | 4 Units, Garden and roof space. Only 1.1 m | Pombalino with HUGE potential

4790

Property ID

352 m2

Size

9

Bedrooms

12345

Bathrooms

Description

Building in Principe real | 4 Units, Garden and roof space

A very exciting building in Principe Realfor renovation which for the right buyer could make a life changing project

There are currently 4 apartments in the building (ground to 3rd level) and 2 are still tenanted. However, the building is sold completely EMPTY (with on tenants) for 1.100.000 €.The photographs you can see are of the existing 2nd and 3rd levels. 

The apartments are roughly 74,00 m2 in size each, except for the one on the 3rd level which is currently about 60,00 m2 in size. The majority of the apartments have a 2-bedroom layout.

The floor plans show the original owners had approved another level, back in 1924, which is still possible to do even today. 

It would probably be advisable to convert the existing 3rd level apartment into a duplex apartment (i.e. occupying the 3rd and 4th levels). According to the previously approved plans, the 3rd level would have a ceiling height of 3,50 m and the 4th level 2,30 m2. Please refer the attached floor plans, for a better understanding of the proposed level.

Building in Principe real | 4 Units, Garden and roof space

If you add the new level (4th) you will increase the existing build size from 278,00 m2 to 352,00 m2, as per the table below:

Level  Existing+ New Level

. Ground   70,00 m2   70,00 m2

. 1st    74,00 m2   74,00 m2

. 2nd    74,00 m2   74,00 m2

. 3rd   60,00 m2   74,00 m2

. 4th     0,00 m2   60,00 m2

. Garden 140,00 m2 140,00 m2


Considering 50,00% of the garden (outdoor) area as build size for the purpose of price per m2 calculations, you would snatch up this building for just 2.606 € per m2 at the existing asking price.

The garden area is at least 140,00 m2 in size and the ground, 1st and 2nd levels would each have a private garden (ground level would have a small patio). 
The expected renovation costs, including the doing up the garden area are 250.000 € – 300.000 €.
In terms of long-term rental yield you could expect a minimum 6,00% yield or 81.000 € per annum, for the 4 apartments (i.e. 1.600 € x 3 + 2.000 € x 1) 

Viewings in person only – This is a very rare and profitable opportunity

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Brand Name
propertylisbon.com
Property name
Principe Real - Building in Principe real | 4 Units, Garden and roof space. Only 1.1 m | Pombalino with HUGE potential
Price
EUR 1100000
Property availability
Available in Stock

Address

Address: Principe Real, Lisbon, Lisbon, Portugal
  • Country: Portugal, Portuguese Republic
  • Province / State: Príncipe Real
  • City / Town: Lisbon
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  • Property ID 4790
  • Price 1,100,000€
  • Property Type Building, Golden Visa 500,000, Renovation projects
  • Property status For Sale
  • Bedrooms 9
  • Bathrooms 12345
  • Size 352 m2
  • Label Available
  • Street /
  • District Principe Real
  • Town Lisbon
  • Postcode /
  • Country Portugal
  • 4 apartments Yes
  • Garden Yes
  • Prime Location Yes
  • Roof extension Yes

Location

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Contact

Avenida Da Liberdade
+351 211 226 489
info@propertylisbon.com
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