Dramia, Chania, Crete, Greece
- PROPERTY TYPE
House of Multiple Occupation
- BEDROOMS
15
- BATHROOMS
11
- SIZE
8,988 sq ft
835 sq m
Key features
- the property sits just 300 meters from the coastline with beautiful sea views
- The Basement (259,13 sqm) is currently utilized as storag
- Ground Floor (348,78 sqm) there are 8 units
- First Floor (227,03 sqm) comprises 3 units
- Fully operational with monthly rentals providing immediate cash flow
Description
Located in the high-demand touristic zone of Kavros - Apokoronas, the property sits just 300 meters from the coastline with beautiful sea views and easy access to the National Highway and proximity to Chania/Heraklion airports.
It offers immediate income-generating capacity with significant "Value-Add" potential through renovation and conversion into a high-yield boutique hospitality business.
The building which was authorised in 1991 has been renovated and extended in 2005 with on other ground floor body building of 108 sqm.
It offers Total 11 Units (apartments).
The Basement (259,13 sqm) is currently utilized as storage/warehouse space.
On the Ground Floor (348,78 sqm) there are 8 units:
- 2 two-bedroom apartments and
- 6 one-bedroom apartments
First Floor (227,03 sqm) comprises 3 units: 2 two-bedroom apartments and one studio.
The apartments offer private bathrooms, fitted kitchens, fitted wardrobes in the bedrooms, air conditioning, solar panel for hot water, parking place.
The Construction has been made by reinforced concrete frame and slabs; brickwork walls; aluminium frames; ceramic tiling and its maintenance status is rated as "Good."
Investment Analysis
- Current Status: Fully operational with monthly rentals providing immediate cash flow.
- The Opportunity: The property currently holds untapped potential as it used as for long-term residential rental. Given the 300m distance to a prime sandy beach and the size of the plot, the optimal "Highest and Best Use" is a full renovation into a luxury touristic apartment complex.
- Infrastructure: All utilities and services are in place. The outdoor area includes a landscaped courtyard and established parking.
Keys features:
- Prime Location: High-traffic touristic area with great views to the sea and countryside, walking distance to the famous beach and amenities.
- Versatility: Large plot allows for further landscaping (pools, bar, etc.) to increase the average daily rate. A large basement that could be turned in accommodations and/ or other utilities spaces.
- Income Generating: No "dead period" during the transition and planning phase.
Dramia, Chania, Crete, Greece
NEAREST AIRPORTS
Distances are straight line measurements- Chania(International)16.4 miles
- Heraklion(International)48.5 miles
Advice on buying Greek property
Learn everything you need to know to successfully find and buy a property in Greece.
Notes
This is a property advertisement provided and maintained by QPS Real Estate, Rethymno (reference B584) and does not constitute property particulars. Whilst we require advertisers to act with best practice and provide accurate information, we can only publish advertisements in good faith and have not verified any claims or statements or inspected any of the properties, locations or opportunities promoted. Rightmove does not own or control and is not responsible for the properties, opportunities, website content, products or services provided or promoted by third parties and makes no warranties or representations as to the accuracy, completeness, legality, performance or suitability of any of the foregoing. We therefore accept no liability arising from any reliance made by any reader or person to whom this information is made available to. You must perform your own research and seek independent professional advice before making any decision to purchase or invest in overseas property.