Commercial property / Никосия
Building is situated at the most prestigious area of Nicosia. Among the 2 biggest, private Universities and its various campuses; next to the Hilton Park, Alpha-Mega Supermarket, close to Embassys; and inside the core of the most expensive residential area of Nicosia.
A superb opportunity for investment for the total Residences of 22 one-bedroom apartments.
The building is completely renovated externally and internally, enhancing all up today materials. All apartments fully furnished with one double or two single beds, medium (but not small) Kitchens, with appliances ( Refrigerators, Hob and Oven )double sofas, desk with drawers amongst others.
Various other points of references:
Buzzer with cameras for checking your guests
Modern sanitary shower additives
Very high standards of Insulation; Thermal and sound, all around the walls and the roof. Also very efficient sound insulation drywall partitions separating eachapartment.
Basement for big part of the car parking.
Quality insulated aluminium windows.
Master Key system, easing the management of the building
Ceramic floor tiles 60x60
Pressure system for the water supply
Separate A/C wall units for covering all apartment
Solar heat panels for hot water
Elevator covering basement to top floor
All ceiling inside apartments covered in plasterboard
Luxurious Main entrance Area
including furniture and appliances.
The rent receivable can be 550-600 Euros each furnished apartment. This gives a total earning of 12,100 - 13,200, say 12,500 approximately, per month.
Total rental per year 150,000 Euros.
The building is considered a resale therefore is not subject to the VAT. Initially the building has been constructed around 1984 and is been renovated.
Maintenance cost is estimated to be very low in the first 5 years.
The energy consumption is very low due to the high insulation of the building and this is to the advantage of the tenants and the Investors that will be willing to show a preference towards these apartments.