SUITABLE FOR GOLDEN VISA: INVESTMENT PROPERTY IN PALAIO FALIRO

Description

Fully Renovated Investment Property for Sale – 160 sq.m. – Palaio Faliro – Conversion Potential to Residential Use An investment property currently designated for commercial use is available for sale in Palaio Faliro, close to Eleftheriou Venizelou Avenue. The property comprises two fully renovated and independent units of 80 sq.m. each, located on the 2nd and 5th floor, respectively, with the possibility of conversion from commercial to residential use. With a total surface area of 160 sq.m., the property represents a particularly attractive opportunity, combining contemporary design, high construction standards, and significant potential for future utilization. Both units have undergone a complete renovation using high-quality materials, while the sale price includes the process/permit required for the change of use from commercial to residential, providing the opportunity to create two independent modern apartments. The 80 sq.m. second-floor unit is currently configured as a spacious open-plan area, offering the possibility of creating two bedrooms and a living room. A fully fitted kitchen and a bathroom with shower and vanity unit have already been completed. The 80 sq.m. fifth-floor unit is arranged as a particularly bright open-plan space, featuring large glazed openings that provide abundant natural light and open views. It also offers the possibility of being configured into two bedrooms and a living room, while the kitchen and bathroom have already been completed in a modern contemporary style. The fifth-floor kitchen features a worktop, sink, mixer tap, and dishwasher, while a distinctive wooden partition between the kitchen counter and the main open-plan area adds a contemporary architectural element to the interior. The bathroom features a vanity unit and shower, while plasterboard suspended ceilings have been installed both in the bathroom and throughout the remaining areas, further enhancing the property`s modern aesthetic. Both units feature energy-efficient thermally broken aluminium frames with double glazing, as well as integrated shading systems. The fifth-floor unit, in particular, is equipped with dual roller blinds – blackout and see-through – allowing flexible control of both natural light and privacy. For heating and cooling, each floor benefits from an independent air-conditioning system, while the fifth floor is equipped with a ceiling-mounted air-conditioning system. Hot water is provided through an electric instantaneous water heater, while the necessary piping has also been pre-installed for a solar water heater. As part of the comprehensive renovation, a completely new electrical installation has been completed, together with pre-installed network infrastructure for an alarm system and security cameras. Additional features include a security door and a modern video intercom system. Furthermore, external thermal insulation works have been carried out on the building, contributing to improved energy efficiency and thermal performance. Additional advantages include a private parking space, as well as the right to construct a small storage room on the building`s rooftop terrace. The property also benefits from future vertical extension rights, offering further development potential. The combination of two independent units, complete renovation, potential conversion to residential use, modern energy-efficient specifications, private parking, and additional development rights gives the property a particularly strong investment profile. It may be utilized either by maintaining its existing commercial use or by converting it into two independent residences, suitable for owner occupation, long-term rental, or other investment purposes. The property is situated in a particularly convenient location in Palaio Faliro, offering easy access to major road networks and public transportation. Eleftheriou Venizelou Avenue and Aigaiou Avenue are both within close proximity, providing convenient connections to central Athens and the southern suburbs. In addition, the Achilleos and Evangeliki Scholi Tram stops are located approximately 400 m from the property. For further information or to arrange a viewing, please contact us. In accordance with Law 4072/11-4-2012 (Government Gazette 86 A`), presentation of a police ID and Tax Identification Number (TIN) is required for property viewings. P&Partners Real Estate www.ppartners.gr info@ppartners.gr 211 411 06 06