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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 m2The 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 costsFor 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