Residential building for sale in Larnaca

Existing incomplete residential building under assessment for investment
Location and Site Identification: It is located in Oroklini Heights, next to green area and landscaping and enjoys panoramic and picturesque sea views and of Larnacas sea front.
Short proximity from facilities and restaurants in Oroklini and close driving distance to beach side.
Ideal for rental yields.
Project Characteristics: The Total Plot area is 1,100sqm and has a covered area of approximately 1,100sqm.
It has submitted permits for change of use to residential apartments with roof gardens and roof pool for commercial use.
With the new planning approvals it will be comprised of 5 x 2-bed units, 4 x 1-beds and 4 x 3-bed units, out of which 2 are penthouses with roof gardens on top (180 Sea views).

Financial Information: The turnkey purchasing price for complete project is EUR 2,750,000
Price as is EUR 1,100,000
Expected Returns on Management: Expected indicative income for long term use under a safe moderate scenario is EUR 156,000, which corresponds to an annual ROI% of 6%