Property building for sale, Smilšu street, Vecrīga / 2200000€3165000€Reduced price!

Property description

A property in excellent condition located in the very heart of Old Riga.

Five-storey building with a total area of 3,293.5 m²
Land area: 831 m²

+ The building can also be successfully converted for residential use
+ Originally built in 1812, renovated in 2002
+ The building features a small inner courtyard serving as a light shaft
+ Central heating, high-capacity electrical supply, centralized water supply and sewage systems
+ In some rooms, original brick masonry fireplaces have been preserved and currently serve as decorative elements
+ Overall, the interior finish of the premises is in satisfactory technical condition; some rooms show natural wear and tear, with finishes appropriate to their function. The building is equipped with security and fire alarm systems, a computer network with internal distribution, video surveillance, and a telephone exchange.

A detailed investment model for the property development has been prepared (available upon request):

Project ROI: 23.97%
ROE: 51.1% (based on 60% bank financing)

• Finishing: grey finishing

Object on the map