3 Bedroom · 4 rooms in Old Town
Description
In the heart of Old Nice, a unique investment opportunity awaits in a charming, quiet alley near Place Garibaldi. This property, situated on the 4th floor of a well-maintained condominium, offers a rare chance to own two apartments grouped together in a single lot of 83 m². The building, which has been renovated, permits seasonal rentals, making it ideal for investors navigating the Airbnb market. Each apartment has its own electricity and water meter, providing convenience and autonomy.
The property consists of two T2 apartments, one 45 m² facing east and the other 38 m² facing west, with a combined capacity to accommodate up to 8 people. Both apartments are equipped with air conditioning and are fully electric. There is an option to purchase the property furnished, allowing for immediate turnkey seasonal rental opportunities. The co-ownership's recent vote to allow seasonal rentals further enhances this property's appeal in a market with increasing regulations.
Additionally, there is potential for easy division of the apartments, with a pre-agreement in place, allowing for the possibility of selling a lot separately in the future. With low monthly charges and a proven rental profitability of €70,000 net per year, this investment promises a net profitability before tax of around 12%.
The monthly management cost is €110. The property tax is €700 per year. The price, including fees, is €530,000, with the agency fees paid by the seller. The energy efficiency rating is pending.