Full Description
PREMIUM LOCATION + XL DIMENSIONS = UNIQUE OPPORTUNITY!
Discover this historic building from the 1920s, located in the vibrant heart of Faro. With direct access to two pedestrian streets, the property offers a calm and charming atmosphere.
Originally designed with two commercial spaces on the ground floor and a spacious residential apartment on the first floor, this property also features a massive rooftop terrace with 360-degree panoramic views of the city.
Despite its solid construction, the building requires extensive rehabilitation, as it has been unoccupied for several decades.
Inspiring Architectural Project
There is already a very interesting architectural study that respects the original configuration of the two commercial spaces on the ground floor (which can be combined or converted into high-standard offices) and proposes the creation of three apartments: one T1 and two T2s.
Each residential unit has been carefully designed to ensure total independence, providing the feeling of a private home and minimizing condominium costs.
Outstanding Investment
This proposal stands out from everything else in the heart of the city, offering a unique opportunity for discerning investors. The architectural study also contemplates the possibility of licensing for short-term rental (AL), with a highly attractive profitability calculation.
Comfort in Every Detail
Each apartment is spread over three floors, with the top floor featuring an individual rooftop terrace of over 50m²perfect for enjoying the Algarve sun and the indoor-outdoor living concept the region offers.
The two commercial spaces, the T1, and one of the T2s benefit from a ceiling height of 4 meters, providing generous volumes and a sense of spaciousness in every room. The second T2 maintains a comfortable ceiling height of 2.70 meters and a layout reminiscent of a townhouse.
All bedrooms are en-suite, with open-plan kitchens connecting to the living areas, creating a modern and functional flow. There is also a guest closet (or a full bathroom in the case of the T1). One of the T2s includes a private garden with parking.
The building itself sits on a plot of over 250m² and has a private area of more than 450m², which is distributed across covered areas on the ground floor and first floor, and uncovered areas on the ground floor (garden with parking), first floor (terrace from the living room of one of the T2 apartments), and second floor (terraces for all apartments).
Maximum Flexibility
If preferred, it is possible to develop an alternative project, converting the building into a single luxury residence with the largest rooftop in the cityan absolutely rare opportunity.
Unbeatable Location
The premium location allows easy access on foot to all services, shops, schools, and public transport. Faro Marina and the iconic Arco da Vila are right next door, and the international airport is just 15 minutes away by car.
Come and discover this wonderful property and all its potential in the historic center of Faro!
AlgarveProperty.com - AMI: 2196 - T.: 00351 289310310 - REF: MB258497M
Read more