Investment for Sale in Limassol

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€2,350,000 EUR

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Ref 2273529 | Limassol, Limassol | Property

Currency services provided by Excel Currencies 2,350,000 EUR  |  Approx.£2,023,585 GBP  |  Approx. US$2,514,970 USD
  • Type: Investment
  • Location: Limassol
  • Province: Limassol
  • Country: Cyprus
  • Bedrooms: 0
  • Bathrooms: 0

Building Description:

The building is located in the centre of Limassol, surrounded with Cypriot traditional architecture houses. This fact makes the building unique since the area's architecture is protected by government and is not allowed to demolish already existed traditional buildings.

It consists from five stories (11 Apartments - Total):

1018m2 Covered areas + 26m2 uncovered verandas + 380m2 BasementA basement that is used as a parking area. -> EACH APARTMENT HAS A PARKING SPACEThe ground floor has three maisonettes and gated parking area (covered and uncovered).The mezzanine floor has one apartment at the back side of the floor and the front side is shared with the three maisonettes of the ground floor.The first and second floor have 3 apartments each.It is a functional building and it has been fully renovated in 2010 in order to be used as Student residence from T.E.P.A.K (Technological University of Cyprus).

The building is rented with T.E.P.AK until the end of August, 2025. -> ROI: 3,6

In addition it has an elevator that starts from the basement to the second floor, a fire alarm system with smoke detectors and network (CAT 6) in all apartments.

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