Residential building in Paphos № 237315

This property presents a compelling opportunity for investors seeking a combination of existing residential income potential and future capital growth. With nine existing apartments, dedicated parking, elevator provision, and an approved pathway for additional construction, the property offers flexibility for rental investment, refurbishment, or further development.

The planned third-floor expansion, including two penthouse apartments, creates an opportunity to enhance the overall asset value while taking advantage of the property's excellent location

In addition to the existing building, ready planning permits are available for the construction of a third floor comprising two penthouse apartments, offering an exciting opportunity for further development.

Property Highlights

Plot size: 551 sqm

Building coverage: 50%

Existing construction: Two floors

Licensed development: Approved licence for a third floor

Existing apartments: 9 units in total

Ground floor: 1 apartment

First floor: 4 apartments

Second floor: 4 apartments

Apartment size: Approximately 50 sqm each

Parking: Dedicated parking area

Accessibility: Provision for elevator installation

Expansion potential: Approved planning permits for a third floor with 2 penthouse apartments

Prime Location

The property enjoys a highly desirable location, conveniently positioned close to the beach, shopping, education, and essential amenities.