Rare Investment Opportunity in Lagos Historic City Center
649 000 €
Single-family building of over 250sqm laid out across 4 floors. Built in 1968 with remodeling and restoration carried out in 2007. The property has full or partial ocean views on 3 of 4 floors.
A real unparalleled investment opportunity in the historic city center of Lagos, the former capital of the Algarve. For sale with approved PIP Project to efficiently convert the existing structure into 4 independent fiscal articles, each comprising of a large, modern, high-quality one-bedroom apartment. It is envisaged that all apartments will have access to a communal elevator and a new panoramic roof terrace with unmatched ocean views across Meia Praia, the Bay of Lagos, the church of S.Sebastião and the historic Lagos city center. The project envisages the addition of an extra floor (the roof terrace) and an increase in floor space to over 275sqm.
The south-east facing property is located on a quiet street within the old city walls of Lagos but is within a 3 minute walk of the hustle and bustle of two of the three main squares of the city (Gil Eanes and Camões), the municipal fish and vegetable market as well as the main riverside avenue. Given the property’s central location there is an outstanding range of restaurants, shops and bars within walking distance while some of Lagos’ best beaches and its picturesque Marina are within a 10-20 minute walk.
All relevant data, such as the architectural project, are available upon request.
Due to the quality of this offer, we recommend contacting us as soon as possible.
The photos of the areas of the 4 existing floors date from the remodeling and restoration of 2007. Today they are empty and serve here only to illustrate the restoration option, in case the remodeling foreseen in the PIP project is not intended to be done immediately by the buyer .
We work with excellence in the entire process of sale and purchase of property, including promotion through the execution of specialized marketing tools, Credit Intermediation and management of the entire bureaucratic cycle of both clients and properties. By being present and in communication with all the intervening entities, we are able to ensure a short and trouble-free conclusion.
As Credit Intermediaries, certified by the Bank of Portugal, we offer a free credit intermediation service that allows you to create, or transfer, a mortgage with the guarantee of obtaining the best market conditions for your specific situation.
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- Price: 649 000 €
- Status: Good
- Gross area: 264m2
- Plot Area: 86m2
- Bedrooms: 5
- Bathrooms: 3
- Construction Year: 1970
- Energy Certificate: D
- Reference: C0369-00465