Building located in the old town, nice location with lot of restaurants, cafes, shops and other tourist attractions. Few minutes walk from National Opera and theatres.
Best usage for building is apartment building for short term lease apartments. Possible to attract airbnb operator to reach at least 10% yield. At the moment building is used as office building and is partly rented, generating 1212 EUR per month. Building project is approved - there will be 10 apartments, sizes from 25 to 70 sqm and storage spaces in the basement for each apartment.
The price of the building is € 950 000.
Potential profit from apartment sale with white finish € 135 722 (12,63% yield).
Required investments to prepare apartments with full finish €234 217, potential profit from sale will be € 157 352 (12,97% yield).
Required extra investments to prepare apartments for short term lease apartments - €75 000. Potential NOI € 137 841 (10,89% yield).
Property type: | Commercial |
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Price: | 950 000 EUR |
Total area: | 754 m² |
Direct reference: | https://www.city24.lv/en/real-estate/commercials-for-sale/Riga-Vecriga/9158077 |
Additional information: | https://starlex.lv/lv/estate/13732-commercial-mucenieku-3 |
Price / unit: | 1 259.95 EUR/m² |
Monthly payment of this property in SEB bank: | Apply for a consultation |
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Purpose of use: | Investment object, Office(s) |
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Heating system: | central heating |
Ownership rights: | registering in the land register |
Condition: | ready |
Total area: | 754 m² |
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Plot size: | 238 m² |
Floor / Total floors: | 5 / 5 |
Extra values: | furniture |
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