Residential Development for sale in Nicosia Municipality, Nicosia

Four-storey residential building with a basement in a very good location in Kaimakli Quarter of Nicosia Municipality. It is located at a distance of 880 meters (approx.) northwest of “Bata” roundabout and 300 meters (approx.) north of Agiou Ilarionos avenue.Along Agiou Ilarionos avenue there is a plethora of amenities and services such as shops, schools, restaurants, bakeries etc. In addition, the center of Nicosia and the “Frederick” University are also a short drive away.The building was constructed around 2011 and its level of construction and maintenance is good. It consists of a ground floor and three upper floors with 8 two-bedrooms apartments. The basement consists of parking spaces. It is noted that the two apartment on the third floor are incomplete since there are minor construction works to be completed.The area of the internal spaces Is 728 sqm  (approx.) and the covered verandas 72 sqm (approx.).  It is noted that the building corresponds to the ½ share of the property.One (1) out of eight (8) apartments are rented for €400/month. The property has a potential to offer a yield of 6% and above.The building is considered as an appealing investment opportunity.A planning permit has been reissued and is valid until 01/09/2028. THE CLOSING TIME FOR TENDER SUBMISSION IS 10:00 AM EVERY TUESDAY, UNLESS OTHERWISE SPECIFIED The Terms and Conditions found on the Tender form must be carefully considered prior to submitting an Offer.  Any photographs, markings, outlines, or other design on the photographs are indicative and for illustration purposes only. All planning particulars or other features of the property must be checked with the relevant authorities. Altamira Asset Management Cyprus Ltd is not bound to accept the highest or any other offer submitted.  The above price may be modified without any prior notice. All information received from Altamira Asset Management Cyprus Ltd (through the website and / or its operators and / or otherwise) is indicative and no guarantee is given for its completeness and / or validity. The Tenderer is exclusively responsible for conducting an inspection of the Property and to take all actions necessary to verify and / or be satisfied on the accuracy of the details of the Property (including planning particulars, boundaries a.o), and in addition to ascertain whether the sale of the Property is subject to VAT and the exact amount payable. In case of disagreement, it is the sole responsibility of the Tenderer to provide relevant evidence to satisfy Altamira Real Estate. District: Nicosia Municipality: Nicosia Municipality Quarter: Kaimakli