13/08/2024
Are you a real estate entrepreneur or an experienced developer?
We have got the perfect project for you!
An 800 sqm mixed-use building located in the Old City Of Nicosia (Cyprus) 2-minute walk to the central bus station, Landra Street, and less than a 10-minute drive to Nicosia University and Nicosia’s city hall.
With an approved plan and license for remodeling the two floors from 6 apartments to 15 studio rooms, the location grants the option to combine Airbnb for business travelers and studio tenants for students of Nicosia University.
The building has an approved renovation permit (Which took 3 years to get), a plan by a professional architect, and an approved license to operate as a business (license hotel).
Now, Let’s talk numbers!
The building currently makes more than €4,600 a month from rent income.
The new business plan that has been approved for the building can create more than €265,000 in yearly income!
Because of the building’s location, the approved renovation plans, and the ability to start construction now, the building has been valued (by a certified valuer) at 841,000 euros.
However, because of the cost of the renovation (which is around 500k euros), the building is for sale just for 750k euros
For more details please contact us by WhatsApp at https://wa.link/hzrfrx
