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9 Bed Property for sale

Principe Real, Lisbon, Lisbon and Lisbon Coast, Portugal

£1,000,546 *

 [€1,100,000]

Property Details

  • Bedrooms: 9
  • Bathrooms: 0
  • Habitable space: 352 m2

Features

  • Great Location
  • Investment opportunity

Full 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


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

This property listing (ref: 17892-4790) is an advertisement supplied by Property Lisbon.com and does not constitute property particulars. While aplaceinthesun.com (APITS Ltd.) requests all advertisers supply correct details, it does not carry out checks on the information supplied and cannot be held responsible for any inaccuracies. Aplaceinthesun.com recommends seeking independent legal advice prior to any overseas property purchase.

*Based on an exchange rate of 0.9096 from Euro to GBP. This rate is updated daily and is an indicative market rate supplied by A Place in the Sun Currency. Actual trading rates vary.

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