A unique investment opportunity in the heart of Olhao's historic centre. A building with a collection of 5 townhouses (with Alojamento Local License) offering a range of living spaces catering to the needs of individuals, couples, and families.
The building consists of two 2 bedroom (T2) units, two 1 bedroom (T1) units and one studio unit (T0), all with private rooftop terraces, where each unit boasts its own pool or jacuzzi, with the exception of the studio unit.
Each unit is accessed via a common courtyard, with two units also having direct street access, and each are styled with its own distinctive theme and unique decoration.
Less than 350m (4 minute walk) to the Seafront/ Markets and 700m from New Marina Development.
Currently the property is used for short-term rentals which generated a combined gross revenue of more than €160,000 (2022).
# 1 - 'L'Elegante' - 2 Floors / 2 Bedroom (En-Suite) / Kitchen / Living Room / Guest Bathroom / Spacious Roof Terrace with Pool / Street Access
# 2 - 'L'Estivale' - 2 Floors / 2 Bedroom (En-Suite) / Kitchen / Living Room / Guest Bathroom / Spacious Roof Terrace with Jacuzzi & Pool / Street Access
# 3 - 'L'Industrielle' - Studio Duplex with Small Private Roof Terrace
# 4 - 'L'Orientale' - 2 Floors / 1 Bedroom / 1 Bathroom / Open Plan Kitchen & Living Room / Outdoor Terrace / Spacious Roof Terrace with Jacuzzi & Pool
# 5 - 'La Coloniale' - 2 Floors / 1 Bedroom / 1 Bathroom / Open Plan Kitchen & Living Room / Outdoor Terrace / Spacious Roof Terrace with Pool
Each unit comes fully furnished, decorated, and equipped with shutters, double glazing, and air conditioning.
This property offers a unique, flexible and highly lucrative investment opportunity thanks to the combination of a prime location, a variety of unit options, and attractive amenities.
There is the possibility to use 1 unit as a holiday retreat or permanent residence (and rent when not in use), or, rent all apartments to generate a strong income-generating and yield producing investment.
Olhao, a historic fishing and canning town, is the perfect blend of authenticity, culture and tourism that is no where else to be found in the Algarve. Surrounded by the beautiful natural landscape and wildlife of the Ria Formosa Nature Reserve, it is best known for it's cubist architecture, beautiful facades, narrow streets, fresh produce markets and collection of islands that offer protection from the sea.
Only a 15 minute drive from Faro Airport, Olhao is increasingly becoming a destination for tourists and ex-pats who are seeking a more vibrant and authentic Algarve experience. An extraordinary place to live and visit thanks to a pleasant fusion of locals and foreigners making the most of everything Olhao has to offer.
Energy Rating: F
Legal references
Characteristics
Energy and Risks
