Central Athens: 3 Storey Apartment Building, near Caravel, Hilton & University

This 3 storey apartment building is in one of the most prestigious locations in Athens, with shady, tree lined streets and bounded on one side by pine woods. The apartment building which has been well maintained, is within easy walking distance of The Caravel, Hilton and Crown Plaza hotels and close to the university and campus. The nearest Metro station is a five minute walk.
Originally built in 1957, the building has been completely renovated, both internally and externally. It is divided into four apartments, providing 270 sq.m. of accommodation as follows;
Lower Ground floor
1 bedroom apartment 35 sq.m.
Ground Floor
2 bedroom apartment 73 sq.m.
I bedroom apartment 35 sq.m.
First Floor
Luxurious owners apartment of 130 sq.m. including hallway, a large kitchen, an impressive split level lounge with raised dining area, open fireplace, office, 2 bedrooms and a bathroom.
Roof Garden and terrace of 121 sq.m. with views of the woods. On the terrace there is a small kitchen, w.c. and 30 sq,m, of storeage
Parking space for one vehicle
The building has the benefit of central heating and double glazing
The house has entrances both to the front and rear. As it is, the building makes an excellent residential investment, with owner's accommodation and four other income producing apartments. There is constant demand for accommodation in Ilissia. The building is close to the university making it also suitable, with some internal re arrangement and refurbishment, for student accommodation. Its location is also ideal for an embassy.
The plot size (173 sq.m.) is large enough to permit the complete redevelopment of the site, creating a seven storey building with eight parking spaces on the ground and lower ground floors. The maximum build area is 519 sq.m and the maximum height is 27 m.
Redevelopment of the building, could increase its potential as an investment, whether as student accommodation, residential apartments, or a dedicated use such as an embassy. The owner, who is an architect, has available, plans for a proposed internal layout, if the building is to be redeveloped for residential use.
Apartments in Ilissia command premium rentals. With an attractive asking price of 440,000 Euro, the building makes a compelling investment.