Residential Building In Kapsalos, Limassol

Description

An Investment opportunity located in the heart of Limassol in the Kapsalos area.
Situated on a large 673sqm corner plot, we offer Two properties in need of renovation , they consist of a single storey corner house with a covered area of 106 sqm, 25 sqm cov verandas and 23sqm uncovered,and a Two storey 290 sqm house with 36 sqm cov verandas and 32 sqm uncovered,in addition an outbuilding of 63sqm is situated in the grounds.
With a 120% building density and 3 floor allowance, this could be an ideal project to construct either a 3 storey apartment block or to renovate the 2 current properties located in such a highly sought after central location close to Makedonias Street.

Property Details
* For Sale
* Property Type: Building
* Property Subtype: Residential
* Location: Limassol, Kapsalos, Cyprus
* Internal Area: 460sqm
* Covered Verandas: 61sqm
* Uncovered Verandas: 55sqm
* Bedrooms: 6
* Bathrooms: 2
* Price: €650,000
* VAT: N/A
* Date Available From: 22nd February 2022
* Loan Installment: €3,186

If you wish to borrow from a bank, please find above indication of the loan installment with the assumptions used below.

Loan Installment Calculations:

Assumptions:

Closing Price: €650,000

Own Contribution (30%): €195,000

Loan Amount (70%): €455,000

Interest rate: 3.2%

Years of repayment: 15 years