Residential building in Paphos / Kato 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.