350.000 €
Rehabilitation Project Two-Storey Building with Tourist Potential Location: Riverside Zone (typical area with high tourist potential) Typology: Old building with two floors and independent entrances 1. General Framework This property has a privileged location, in one of the most authentic and traditional areas of the riverside area, recognised for its picturesque environment, excellent gastronomy and strong connection to local traditions. The proximity to typical restaurants and the cultural and tourist offer of the area gives this project high potential for appreciation and return in the medium term. 2. Property Features Composition: Two-storey building (ground floor and 1st floor), with independent entrances; Total ground floor area: 83 m² . Includes **small north-facing backyard**, ideal for outdoor area or private garden; Total floor area: 66 m² . It includes a 5.5 m² patio, with potential for a terrace or balcony; Structure: Requires total intervention, allowing for comprehensive and personalised rehabilitation; Recent work: A new plate was placed between floors, replacing the previous wooden structure a solid starting point for the reconstruction project. 3. Rehabilitation Potential The rehabilitation may include: Two independent apartments, with the possibility of tourist exploration; Local Accommodation Unit (AL), with contemporary design and traditional elements; Single-family house with two floors and outdoor space; Commercial space on the ground floor and flat on the 1st floor, benefiting from the movement of the riverside area. The versatility of the building and its location allow for multiple profitability scenarios, adaptable to the investor’s profile. 4. Investment Opportunity Strengths: Tourist location of high interest and growth; Consolidated area and in continuous appreciation; Potential for integral rehabilitation with low structural risk (new plate installed); Ease of adaptation to different business models (AL, housing, commerce). Estimated return: Depending on the final typology and level of intervention, the investment may reach an estimated internal rate of return (IRR) between 8% and 12%, considering tourist exploitation and appreciation of the property after rehabilitation. 5. Surroundings and Urban Context The building is very close to the riverside area, in a setting of great tourist and historical interest. The area is characterised by: Typical streets, paved and with a traditional atmosphere; Proximity to restaurants and bars of reference, with an emphasis on local cuisine (sardines, seafood, typical dishes); Strong presence of visitors, especially during the high season; Ease of access to public transport and main traffic routes. 6. Conclusion This property represents an excellent investment opportunity in urban rehabilitation, with: Structural base already started; High potential for appreciation; Strategic location in one of the most authentic and sought-after spots in the city. The combination of traditional characteristics, functional versatility and favourable tourist context make this project especially attractive for investors focused on income and asset enhancement projects. Surrounding region: Stretching for about 70 km, the coast of the Western Algarve with its mild climate is a very pleasant tourist destination. The municipality of Portimão is always a pleasant alternative to spend your rest periods with excellent leisure options, rich in its gastronomy, with friendly people and stunning natural landscapes that attract locals and tourists almost all year round. Here the sun shines brightly about 300 days a year over the eight kilometres of the most beautiful and welcoming beaches in the Algarve. The beaches of the municipality with fine white sand, transparent, calm and refreshing waters extend between the Ria de Alvor to the west and the estuary of Arade to the east. Visiting the municipality of Portimão is to get to know a wide variety of beaches of different characteristics and available to enjoy at any time of the year: Praia da Rocha; Marina Beach; 3 Castles Beach; Careanos Beach; Vau Beach; Alemão Beach; João de Aréns Beach, Prainha; 3 Brothers Beach; Torralta Beach; Alvor Beach. Be surprised by the wide sands of Praia de Alvor and Praia da Rocha with their unique beauty and their wide wooden walkways that run along the sand along which several bars and restaurants multiply; with the most hidden small coves, cliffs and caves along the coast; with rocky beaches such as Praia do Alemão or with the animation of the more family-friendly beaches. Leisure and culture In the municipality of Portimão there is no shortage of things to do, with a wide variety of options at sea, on land and in the air, as its mild climate makes it an option of choice for those who, not even on holiday or leisure, like to be still and enjoy the good weather outdoors: sailing, canoeing, surfing, surfskiing, sport fishing, diving, spearfishing, boat trips in the sea to the caves and in the Arade River, equestrian activities in the equestrian centre, motor sports in the Algarve racetrack and international kart track, golf in the various existing courses, hiking or mountain biking, casino, shows in the municipal theatre or in the show centre, skydiving and free fall jumps, etc. As additional information, SUL PROPERTIES has a credit intermediary authorised by the Bank of Portugal. If you need financing, we analyse the various options available from banks operating in Portugal, with the aim of finding the most suitable solution for your needs, at no additional cost to you. Book your visit now! Sul Properties has a team that can assist you, with rigor and confidence, throughout the process of buying and selling your property. For more information contact us by phone or through our website using our reference no. 3046-25 #ref:3046-25