Unique Property in the Algarve - as Residential or B&B
€ 1,975,000£ 1,692,318$ 2,141,966
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Estoi, Eastern Algarve
Ownership Status: Private
Built in: n/a
600m2 Build size
€ 3,292£ 2,820$ 3,570
/ m2 build
11,400m2 Plot size
€ 173£ 148$ 187
/ m2 plot
Experience the charm and spaciousness of this traditional Algarvian residence, nestled within a lush one-hectare garden in the tranquil Estoi area, offering captivating vistas of the countryside and sea. As you approach the property, a meandering cobblestone driveway leads you to the main house.
This unique home boasts an original design inspired by the malta cross, with one of its standout features being the central atrium, presently serving as the divide between the owners large and secluded one-bedroom apartment and the five distinct apartments.
Located on the eastern wing of the residence, you will discover five well-appointed one and two-bedroom apartments, each thoughtfully furnished and equipped, with select units featuring connecting doors. All apartments possess independent access and private terraces, providing the potential for effortless conversion into a spacious family home. Additionally, the property includes a separate annex.
The property also boasts an inviting expansive pool area, ideal for indulging in the delightful Algarvian climate and relaxation.
This property offers boundless opportunities for the discerning buyer and is sold with the apartments fully furnished and equipped.
Under the current ownership, a thriving boutique self-catering apartment business has flourished, achieving steady year-on-year growth. Managed by the current owners, this establishment consistently garners exceptional ratings ranging from 9.4 to 9.8 on Booking.com. A loyal customer base returns annually, making it an appealing investment prospect for those seeking both a stunning residence and a lucrative income opportunity. To anyone interested in taking over, there will be the possibility to further purchase the equipment (including a fleet of guest-rented cars and machinery to tend to the gardens), the book of business, which already boasts several bookings for 2024, and the website. The business currently focus on short term holiday lets, but could also be converted into long term rentals for D7 visa seekers or retirees. Comprehensive details can be provided to interested parties.
Only 20 minutes from Faro Airport and the picturesque coastline, this property enjoys a prime location between the charming village of Estoi and the burgeoning town of Sao Bras de Alportel.
Don't let this exceptional opportunity slip through your fingers.
Contact us now to schedule a viewing!
Features great views
Near bars / restaurants
The energy rating shows the energy efficiency of a building on a scale of A to G. The most efficient homes – which should have the lowest fuel bills – are in band A, whereas the most inefficient homes are in band G.
Estoi itself has a beautiful church, and numerous shops, bars, and restaurants plus a small supermarket.
Sao Bras, Santa Barbara, Bordeira, and Moncarapacho are only a very short drive away, making Estoi right at the heart of the action.
An excellent base for either a holiday home or permanent residence, the property is also only a 20 minute drive from Faro airport, and Praia de Faro - A beautiful beach on the Eastern coastline which has golden sand, traditional restaurants, and enjoys the most wonderful breeze.
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