4-unit apartment complex - geroskipou, paphos
- Reference number: 8952
- Condition: Resale
- Property area: 456 m²
- Included: Garden, Parking, Balcony
- Online viewing: Yes
- Construction year: 2020
- Energy Efficiency: B
- Square meter price: €1.382 /m²
Investment Opportunity – Residential Apartment Building for Sale, Geroskipou, Paphos
An outstanding opportunity to acquire a fully operational residential apartment building in the rapidly growing area of Geroskipou, Paphos.
Built in 2020, this modern development already generates stable rental income while offering significant future development potential, making it an ideal investment for both immediate cash flow and long-term capital appreciation.
Located close to supermarkets, schools, restaurants, public transport, and all everyday amenities, the property benefits from the strong and growing demand for long-term rentals in the Paphos market.
Investment Highlights:
Price: €630,000 (NO VAT)
• Built: 2020
• 4 x One-Bedroom Apartments
• Total Covered Area: 456 sqm
• Current Monthly Rental Income: €2,850
• Current Annual Rental Income: €34,200
• Monthly Maintenance Costs: Approximately €80 (including utilities and cleaning)
• Additional Features
• Additional Storage Unit
• Communal Rooftop Area
• Uncovered Resident Parking
• Fully Income-Producing Asset
• Low Running Costs
• Strong Rental Growth Potential
The Paphos rental market has experienced substantial growth in recent years, driven by:
• Growing expatriate population
• Increased demand from digital nomads and retirees
• Limited long-term rental supply
• Continued conversion of residential units into short-term holiday rentals
With current market rents for one-bedroom apartments reaching €850–€1,000+ per month, the four apartments have the potential to generate €800–€1,000 each, providing an estimated gross rental yield of approximately 5–6% while offering further upside as rental demand continues to strengthen.
Future Development Potential:
The investment extends beyond the existing rental income.
• Plot Size: 456 sqm
• Building Footprint: Approximately 215.45 sqm
• Building Density: 120%
With only part of the available development density currently utilised, the property presents an excellent opportunity for future expansion or redevelopment, adding further long-term value to the investment.
Why Invest?
• Immediate Rental Income
• Modern 2020 Construction
• High-Demand Rental Location
• Future Development Potential
• Low Maintenance Costs
• Close to All Amenities
• Excellent Long-Term Capital Growth Prospects
This is a rare opportunity to acquire a small residential complex that already delivers consistent cash flow while also offering the potential for future development.
Combining strong rental fundamentals with additional land potential, it represents an attractive investment in one of Paphos' fastest-growing residential areas.
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Technical inspection:HOMESURVinfo@homessurv.com+357 22 377 004
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Legal inspection:CTA LAW FIRM C.T. Antoniou & Co LLCinfo@ctalaw.net+ 357 22 516 838
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Technical inspection:SQUARE ARCHITECTSp.panayi@cytanet.com.cy+357 99 592 218
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Legal inspection:M.PARASCHOU LAW Advocates & Legal Consultantsinfo@paraschou.com.cy+357 22 622 262
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Technical inspection:HOME CHECKandreas.chrysos@hotmail.com+357 96 504 296
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