Property description
- Latvia, Riga, Centre
- Krasotaju (Centre)
The complex is located in a quiet center, near the parks Griniņkalns and Ziedoņdārzs as also reconstructed center “Koka Rīga”.
The very convenient transport location.
One part – 1100 m2 of land with complex, consisting of offices, warehouse and production rooms as also sauna and swimming pool (with total area 1500m2). Was made renovation of the healing system and building insulation, this reduced the healing costs by three times.Second part – 800 m2 of land with ready hotel's project (possible to rebuild to an apartment house) for ~2000 m2 area and 37 rooms with building permit up to 2022 (red stamp).
There are two big empty plots of land nearby, this allows to build practically new quarter.
According to the latest assessment, the value of property is 797 000 Eur, which not contain the sum of 800 000 EUR from the hotel's project realization. The total investment portfolio assessment is 1 400 000 EUR.
Was made the office rooms renovation. The complex is rented with an annual income of 8%.
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Location on Map
What you should know, purchasing a property in Latvia
** After rental period you check out, own your property, and:
1. give it for rent and get the loan covered keeping real estate till the highest market to resell, or
2. resell and get the invested money + capitalization profit
In both cases, your rental costs when purchasing real estate are reduced by an average of three times.
