Apartment for sale in Albufeira (Olhos de Agua), Portugal

• 1350 m² of land (14531 sqFt)
• N/C

Development consisting of 6 apartments in a quiet and upscale area of Albufeira, just 5 minutes from the beach. The development includes 6 apartments: 3 - T3, 2 - T2, 1 - T1. All apartments are duplex and have individual garages. The apartments are set on a large plot of land with a huge shared pool. Located in a prestigious area of Albufeira, it is nestled in a residential area with pedestrian access to various shops, bars, restaurants, supermarkets, and just a short distance from one of the best beaches in Albufeira, Praia da Oura. The development can be used for residential purposes or for business, easily transformable into 6 duplex villas that can be sold separately with excellent profitability. Currently set up as local accommodation, it can also be used for rentals or converted into a Guest House or Hostel. In the latter version, by simply adding bunk beds instead of regular beds, it could accommodate up to 130 guests and generate an annual revenue of around €550,000. As for the price of 1,910,000, it is reflective of the prime location of the property, the potential for high rental income, and the versatility of the development in terms of usage. With the possibility of transforming it into villas or a guest accommodation business, the property offers great investment opportunities and a promising return on investment. Overall, the price is fair considering the potential for profitability and the upscale nature of the area.