Current Valuation
€2.710/m²
Sale Target
€3.100/m²
Description
This amazing apartment, located in 250 meters away from the Niarchos Foundation in the southern part of Kallithea area, just a breath away from the sea and right in the middle of the local market, is currently under due diligence. As a first approach, our team of architects and technicians have proposed to work on an urban style to this two-bedroom apartment, in order to capitalize the high demand for short-term accommodation in the area. Minimal and urban style will highlight the ample natural light running through the space. A palette of soft colors in the wooden surfaces will create a perfect match with the modern aesthetics of Niarchos Foundation. Despite its middle size, the space of the apartment will be used optimally in order to create significant storage space and contemporary living environment for a three member family.
Financial plan
See below a detailed breakdown of the project’s financial plan, including the detailed cash outflows and inflows, along with the expected ROI. The investment timeframe spans 12-16 months, presenting a compelling opportunity as typical real estate returns in markets outside of Greece usually fall below 10%. This insightful overview offers a clear perspective on why this project stands out as an exceptional investment choice.
EXPECTED CASH OUTFLOWS | |
Legal expenses | €8.935 |
Property valuation | €108.449 |
Total renovation cost | €69.300 |
Admin fees and expenses | €5.347 |
Tax | €10.257 |
TOTAL | €230.000 |
EXPECTED CASH INFLOWS | |
5 month rent | €6.325 |
Property sale | €238.700 |
TOTAL | €245.025 |
EXPECTED RETURN
21%
at 12-16 months
Note that the expected ROI may increase under favorable market conditions. If the sales process take longer than expected, rest assured that the property will continue to generate dividends through both short-term and long-term rentals, providing a steady income stream.
Investment Opportunity
This section delineates the detailed stages and status of the project, alongside the corresponding ROI for each stage. Early-stage investors benefit from a higher ROI, highlighting the advantage of joining the investment as soon as possible. We urge potential investors to act early to maximize their returns, as the structured progression of the project is designed to optimize financial outcomes at every stage. The status of each stage is regularly updated to ensure investors have the most current information to guide their decisions.
Business plan
This new listed property has been evaluated to 202288 euros and is near to be fully funded. The project is at the stage of due diligence. The renovation plan is estimated to begin at the beginning of July and is planned to be finished by the end of September. The funding will suffice to cover all the expenses, starting from due diligence to costs related to the sale of the property. The primary objective is to proceed to a sale as soon as possible. The price of the apartment raises gradually according to the progress of the renovation and is expected to reach the ceiling of 250250 euros, at the end of September. Based on the business plan, the apartment will be sold furnished. Due to the high demand for renovated properties around the area, we anticipate to achieve a sale within 3-4 months after the end of the renovation. In the event of not suceeding a sale until the end of September, the apartment will be used for short-term tenancy leasing, hosting a maximum of 4 individuals. The daily rate is estimated to fall within the range of 140-170 euros, for 25 expected leasing days per month. The management fee is estimated to 20%, which is tax deductable plus an additional 25% for operational expenses (such as utilities etc) and tax. Hence, the net expected income will approximate the amount of 1581 euros per month. Based our projections, the project will generate a gross income of 245025 euros in total.
Location
What's nearby
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.
Documents
Contract
Lorem ipsum dolor sit amet, consectetur adipiscing
Document 2
Lorem ipsum dolor sit amet, consectetur adipiscing
Share this property
Project Summary
See below for a concise overview of the project. For further information or any details, please don’t hesitate to contact us.
Stages & Status
Track the stages and current status of the renovation project, which is regularly updated to ensure accurate information as you consider your investment.
Current Valuation / ROI
€3.000/m²
Expected ROI
21%
Hurry up, the ROI decreases as the project progresses Tell me more
You can invest as much as you want Show how it works