Located on Porto’s most iconic and famous avenue, this property offers the best potential for a developer who is looking to renovate and generate a healthy return.
There are, in fact, two buildings included with this purchase, both in great condition. High ceilings, large windows and the facade give this property a majestic feel. The signature design of Iberian modernism architecture from the early 20th century accentuates the beauty of this property.
The residential units no longer have tenants and are ready for remodelling. The commercial space on the ground floor has an existing rental agreement until the end of 2022 with a high yield. The capital from the rental is included in the purchase, granting liquidity for renovations upon purchase.
Beyond acquired equity, refurbishment of this property will add great value to the buildings. As an investment, there is incredible potential to turn this already very valuable property into a great return on investment.
Porto is the 2nd largest city in Portugal based on its population; located in the North of the country, it is the city where Portugal’s name comes from. Porto’s name around 2200 years ago was Portus Cale that became Condado Portucalense later.
It’s a city known worldly for its wines, its contemporary and antique architecture, its historical centre as well as its football team, the Porto University (among the best 100 European universities), for the high quality service in its health centres and for its restaurants and gastronomy.
Porto was classified as World Patrimony by UNESCO.
Don’t miss Vila Nova de Gaia with its many tapas and port wine places, chocolate shops and River Douro trips! Visit the São Bento rail station, church of Santa Clara, Café Majestic, Chapel of Souls (Almas), Portuguese Centre for Photography, the gardens of Palácio de Cristal, Dom Luis I bridge, Casa da Música (Music house) and so much more!
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