Plot in the core of city center anexartisias 8486

Limassol district, Limassol — Historical Center
Posted: 07.12.2019 11:44 Ad ID: 1924836
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  • Plot area 360

This is a unique opportunity to acquire a plot in Limassol city center, just 50 meters East of the Anexartisias Street.

Given the size of the land and the density, a developer can erect a 3 story apartment block of 575 sq meters internal areas plus 144sq meters covered balconies. The building cost to built this block is estimated at approximately at 700,000 Euros plus the purchase of the plot, the whole investment shall cost approximately 1,070,000 Euros.

A proposed configuration is to construct all together 11 one bedroom apartments , which fully furnished shall be easily rented at €750 per month, giving a potential income of 99,000 Euros per year to the investor. So on the investment of approximately 1,070,000 Euros the return will be approximately 9.25%!

In the plot at the moment there is an old house, approximately 50 years old.

Bulding Zone is ΠA7 which has the following characteristics:

Building Density 160%

Cover Ratio: 70%

3 Floors

Title deed available on request. PLEASE MENTION VL8486

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370.000
+35725055820

NICOLAOU ESTATES

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Posting since feb, 2017

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