Ithaca, Cephalonia, Ionian Islands, Greece

This multi-faceted property in the heart of Vathi, is for sale.

This property lies in the back streets which makes it convenient for a city lifestyle but not overly busy as the waterfront properties. The main building is multi level with the ground floor opening out towards the road. This level consists of two shops expanding over 97.42m2 which are currently used as storage, however can easily be restored with leasing potential as commercial shops, each with tiled interiors and aluminum and wooden shop front facades.

The first floor of the building, which is the main house, is accessed from the road via an outside staircase. The house was rebuilt and restored after the earthquake in 1956. The structure is stone with beautiful old wooden floors and ceilings. The house measures 115.12m2 and consists of six bedrooms all equal in size. Furthermore there is a separate slightly sunken kitchen and bathroom on this level. The rooms are spacious with high ceilings and interleading french doors allowing you to open up the internal space and be creative with the internal layout.

Four of the six rooms have private balconies, two of which overlook the town with a view of the plateia and the bay in the distance, the other two lead out to the side and back of the house. There is lovely cross ventilation throughout the house when the balcony doors and windows are open, providing an airy and light atmosphere. The interior of the house would require full renovation according to your personal needs. There is electricity and water connected to the house, there is also a 25m3 water cistern and two wells in the garden for the use of this property.

Overall, this house is ideal for a family with ample space to create a very comfortable living environment, or as an investment to rent out a house upstairs along with the shops below. One could potentially earn a great income from renting out both the upstairs and downstairs, or one could live upstiars and still earn an income from the shops downstairs.

The surrounding land is a good size within the town zone, which allows you to build on further should you wish. There is the possibility of building on to create even a Hotel should one wish for this. Currently the garden is overgrown, however with clearing and maintenance this area could really become an outdoor oasis in the middle of the city.

Furthermore, on the land towards the back of the main house is another dwelling. This is made from a stone foundation with wooden structure on top. This house is 54.25m2 and can be used as rental accommodation as one can reach this house via a separate public pathway from the road. This house would also require full renovation to meet comfortable living standards.

This property is versatile with incredible investment potential - from just this one property you could earn multiple rental incomes on an on going basis.

If you are looking for a renovation project with endless opportunity this is a property you would need to consider.

Contact us today for a viewing or to enquire with any further questions you may have.

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MV Properties offer four areas of service:

Real estate | Project Management | Property Management | Event management

"We pride ourselves on quality work and quick service to meet your needs''

MV Properties specializes in simplifying the buying, selling and management process of your house, land or ruin on the island of Ithaca, Greece.

We understand buying property abroad is not only an overwhelming experience, but also one of the biggest investments' you'll ever make.

Our aim is to work step-by-step with you in order to help identify, evaluate and achieve your personal needs in a timely, efficient and hassle-free manner.

We look forward to working with you and helping you find your Ithaca.