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Three buy-to-let apartments with a yield from 5% in the area of Agios Panteleimonas, Athens, Greece

251,000 €
2,074 € /m²
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  • Total area
    121 m²
  • Yield
    5.4 %
Details
Property parameters
  • Total premises: 3
  • 7-floor building
Financial performance
  • Annual income: 13,440 €
Transaction costs
  • Notary (state registration): 1.5 %
  • Acquisition tax: 3.09 %

Renovated apartments in a seven-level residential building for a rental business.

The apartments have kitchens. Each apartment comes with small storage room (5–8 m²) in the basement of the house.

Two apartments on the ground floor have access to a courtyard with a garden, apartments on the second and first floors have small balconies, the rest have more spacious balconies.

The apartments are suitable for couples with an average budget, working in the center, in the hotel business. There are hotels nearby (Centrotel Hotel, Novotel Athens, Athens Iris Hotel, Radisson Blu Park Hotel Athens, etc.), cafes and restaurants (Bulgaria Restaurant, MIRONI Greek Restaurant, ABC Indian Restaurant, etc.).

The completion date of the renovation is May 2021.

Extra opportunities

We can help you get a Golden Visa (permit without tax residence) when buying a property worth €250,000 or more.

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Financial performance

Offer:

One-bedroom apartment 62 m² with two balconies on the 3 floor for 122,626 euros. Annual income — 6,000 euros. The yield is 5.22%.

Studio apartment 39 m² with a balcony on the 3 floor for 83,069 euros. Annual income — 4200 euros. The yield is 5.4%.

Studio apartment 20 m² with a veranda 30 m² on the 7 floor for 61,871 euros. Annual income — 3,240 euros. The yield is 5.59%.

Transaction costs

Costs include:

  • transfer tax — 3.09%
  • notary — 1.5% + VAT
  • lawyer — 1.5% + VAT
  • state fee — 0.7%

Location and nearby infrastructure

Agios Panteleimonas is a district of Athens, formed around the church of St. Panteleimon. It is placed between the Kato Patisia and Kypseli districts. Here located the National Archaeological Museum of Athens.

House is in the immediate vicinity of St. Panteleimon square, where is located the largest Orthodox church in Athens and one of the largest Orthodox churches in Greece — the Church of St. Panteleimon.

Near the property there are also supermarkets and shops, public transport stops, a bank, car rental and public parking.

The convenient location and accessibility of public transport allow you to quickly reach all areas of the city, including the central — Plaka, Monastiraki (15–20 minutes), where shops, cafes and restaurants and the city's attractions are concentrated.

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