Accessible from 2 streets in the most desirable and sought after area (historic centre) of Olhao, this unique, charming and tastefully designed property has been divided into 4 individual (T1 and T2 Duplex) apartments including a private garage, laundry room and office/ storage room.
All apartments have independent access and are bright, fully furnished and equipped with air conditioning.
Less than 300m (3 minute walk) to the Seafront/ Markets and 800m from New Marina Development.
Currently the property is used for short-term rentals which generated a combined gross revenue of more than €130,000 (2022).
Ground Floor -
- Apartment 1 'Estrella' - 1 Bedroom (En-Suite) / Open Plan Kitchen & Living Room / Outdoor Patio
- Apartment 2 'Igreja' - 2 Bedroom (shared En-Suite) / Open Plan Kitchen & Living Room
1st Floor -
- Apartment 3 (Duplex) 'Magellan' - 2 Bedroom / Shared Bathroom / Living Room / Kitchen / Spacious Outdoor Roof Terrace with Jacuzzi
- Apartment 4 (Duplex) 'Picasso' - 2 Bedroom / Shared Bathroom / Open Plan Kitchen & Living Room / Outdoor Terrace / Spacious Roof Terrace with Jacuzzi
This property offers a unique, flexible and highly lucrative investment opportunity. There is the possibility to use the entire ground floor as one large, combined apartment for use as a holiday retreat or permanent residence (and rent when not in use), renting only the 1st Floor apartments, 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: E
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