€1,400,000 $1,523,004
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- Listing ID: 1368800 (45158)
Description
The property for sale is part of a commercial building, 3 shops & 4 flats, in the center of Aradippou municipality of Larnaca district. Amazing location, close to all amenities such as schools, supermarkets, pharmacies, bakeries, coffee shops etc. Only few minutes away from the new Metropolis Mall of Larnaca. A short drive to Larnaca Town Center. Easy access to Larnaca, Nicosia, Limassol motorway.
The building was constructed around the year 2009 and consist of covered parking spaces on the basement, four shops on the ground floor and eleven flats on the upper floors. The share for sale corresponds 3 shops on the ground floor and 4 flats on the 1st floor.
Two of the Shops have been unified and they operate as a single unit. They are situated on the ground floor and internally consists of an entrance hall, separate rooms, while the mezzanine consists of two toilets, kitchenette and covered veranda. The unified shop has a total area of approximate 220qm plus a mezzanine of approximate 110sqm. It is noted that the shop as a single unit is rented for €1,650/month.
Third shop is situated on the ground floor and operates as a bakery. Internally consists of an open plan retail area, while the mezzanine consists of an office, toilet and refrigerator. The shop has a total area of approximate 224qm plus a mezzanine of approximate 81sqm. It is noted that the shop is rented for €1,838/month.
Two of the Flats on the 1st floor is similar to each other and consists of siting, dining room, kitchen, bathroom, three bedrooms and a covered veranda. Internal area of each flat is 96sqm (approx.) plus 10sqm covered veranda (approx.). It is noted that the one flat is rented for €500/month and it is used as an office and second flat is rented for €480/month.
Other two flats on the 1st floor are similar to each other and consists of siting, dining room, kitchen, bathroom, two bedrooms and a covered veranda. Internal area of each flat is 75sqm (approx.) plus 11sqm covered veranda (approx.). It is noted that one flat is rented for €420/month and it is used as an office and second flat is rented for €450/month.
Total shops area for sale is approximate 444sqm and total flat area is approximate 342sqm.
It is noted that the property has acquired a distribution agreement.
The building is considered as an ideal choice for investment as the total income of the property is €5.338/month with a yield of 5.4%.
Buying expenses
Stamp duties is tax paid by property purchasers to the land registry when the property sales agreement is registered with the land registry. Transfer fees paid by property purchasers to the land registry when the title deed of the property is transferred to their name.
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