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Beachfront Apartments In Faro For Sale

Silves, Faro, Portugal
Asking Price:
€380,000 Furniture / Fixtures included
Sales Revenue:
€15,000
Cash Flow:
Under €50K

The property comprises two spacious and comfortable apartments located right at the seafront avenue of a quite fishing village in the Algarve (Armação de Pêra).

The original property had 4 bedrooms. Now it has been fully renovated where even the electrics and water pipes were replaced. It was also split into a two bedroom apartment and a one bedroom apartment.

It has been used as an investment property where both apartments have been fully booked for the months of June until September. Winter lets have also been made since the owners renovated the property.

It also has the flexibility where it can be rented independently or it can be rented as a single large apartment by opening the doors between them.

For someone who would like to live in the property, it can give an extra income to rent out the other apartment for summer.

There is currently a fully equipped kitchen, two bathrooms and three bedrooms as well as a kitchenette.

Come and see it for yourself!

Property Information

Real Estate:

Real Property Included

Living Accommodation:

The property can be used for living in as well as for renting.

Location:

Armação de Pêra

Premises Details:

The property is located on the second floor. Although there are two small flights of stairs to get into the building, there is also an available lift.

Size in square feet:
140sqm

Business Operation

Expansion Potential:

If the marketing is well advertised it can double the amount of revenue.

Competition / Market:

The main season for rentals is really between June and September. Some months over winter can be very quiet but with good marketing it is possible to have clients renting the property all year round. There is also a good amount of returning clients that used the property for more than one season now.

Reasons for selling:

To invest in other business.

Years established:
2

Other Information

Support & training:

The current owner can support the operation to be continued after selling it. There is already a cleaning team and all furniture, towels, bedlinen has been purchased in 2018 and only used for two seasons so far. That will all be included in the sale.

Furniture / Fixtures value:
€2,500 - included in the asking price
Inventory / Stock value:
€5,000
Website:
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Home based:
This business can be run from home.

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