Newly built residential building of 14 holiday apartments with amazing sea views,

Varna region / Byala

Description

Unique business opportunity, a project for sale- newly built residential building of 14 holiday apartments with amazing sea views, sitting on a plot of land of 636 m2, in the coastal town of Byala, within 10 min walking from the beach- only 225 000 EUR!!!

According the documents, the total built area is 1042 m2.

Officially there are 14 already separated holiday apartments with sizes from 50 m2 up to 75 m2. You will find also store rooms and attic rooms which also can be sold as studio apartments or the total number of the flats can be increased.

The land which comes with the property is 636 m2. and it is with a slight elevation. This makes it even more attractive as this is the main reason of all the apartments to have sea views.

This development is legally built and finished. It has got the so called act 16 or license of exploitation. It means that the new owner can start selling apartments or run a business straight away.

The building needs slight renovations which already have been estimated at 25 000 EUR.

The coastal town of Byala offers all the amenities needed for one good vacation on the beach- clear water, golden sand, bars, pubs, restaurants, pharmacies, hospital, supermarkets, shops etc.

The city if Varna and its international airport are just 50 km away from Byala.

SOME CALCULATIONS:
You will find the amazing price of 206 EUR/M2 here for fully finished inside and outside small residential building of apartments, ready to be sold or start running as a hotel.
Yes, the building needs slight renovations but the sum will not exceed 25 000 EUR in the worst scenario.
At the same time the prices of the apartments for sale with sea views in this area start from 600 EUR/M2, up to 850 EUR/M2.
So, the profit will be at least 100%.

COMPLEX MANAGEMENT- another income will be the complex management. All the future buyers will have to pay per year maintenance taxes which start from 6 EUR/M2 up to 10 EUR/M2. They are obliged to sign a contract with the developer’s maintenance company and in most of the cases it is for life.

RENTING THE APARTMENTS: Another additional income would be that in most of the cases the apartments owners ask the developer’s company to help them with renting out their apartments. This is also another potential income as the developer’s company charges the owners money because of helping them with finding tourists who will sleep in these apartments.

WHY NOT A HOTEL? Yes, you can finish the apartments and make it a nice and luxurious hotel. The location is a very big advantage as the building is less than 10 min walking to the beach and also 5 min from the central part of the town where all the bars, restaurants and shops are.

WHY TO INVEST HERE? There are thousands of tourists who prefer the coastal town of Byala for their family vacation. It’s not far from Varna, with an easy access from Varna Aiport, just 30 min driving, it’s not overcrowded, it is cheaper than Sunny Beach and Golden Sands, the beaches are long and clean, the water is pure, plenty of beach activities, many nice restaurants and night clubs, everyday open market area with fresh vegs and fruits from the producers and much more

NUMBER OF UNITS IN THE RESIDENTIAL BUILDING:
-14 apartments with total built area of 815,65 m2;
-22 store rooms and attic rooms with total built area of 227 m2- they can be transformed into more apartments.

Property Overview

Price

€ 225,000

IDBY80001
TypeHotels
Sold No
StatusAvailable
Total area815 m²
Garden636 m²
Rooms28
Beds14

Position