3 bedrooms Apartment for sale in Larnaca, Cyprus by Cyprus Emerald No. 36780

Property description

Three Bedroom Apartment For Sale in Skala with Land Deeds

***PRICE REDUCTION*** (was €1.000.000)***

RENOVATION PROJECT

This unique three bedroom apartment is located in a prime location in Skala on Ermou Street, right in the centre amongst the shopping precinct. As you enter the property, you come to a cosy reception area with stairs going up to the main hall/landing. From here you can access seven different rooms, three of which are currently laid out as bedrooms, one as a kitchen area and two others as lounge/reception rooms. There is also a large roof terrace which is accessible from either the main hall/landing or from another separate entrance from the street.

This property would be perfect for someone looking for an investment, who could renovate it to bring it back to it's former glory. It has the potential to be either a boutique hotel, a bar, a restaurant or even a family home. The perfect opportunity for a city centre investment project.

The property is a listed/protected building and as such any renovation under taken will be under conservation restrictions with considered government grants of up to €100,000. The roof terrace also has permissions for three additional metal framed floors.

The property also comes with an additional 50.52% building factor (as stated on the deeds) that can be sold to anyone for €260,000 as this is what the Cypriot Law allows.

- 3 double bedrooms

- Master bedroom with ensuite

- Large main hall/landing

- 2 lounge/reception areas

- Kitchen area

- Guest WC

- Un-furnished

- 50.52% building factor

- Internal 177 m2

- Balcony 16 m2

- Roof terrace 55 m2

- 1 minute to local shops and amenities

- 1 minute to local sea and beach

- 10 minutes to Larnaca International Airport

- Suitable for Cyprus Permanent Residency

- Energy efficiency TBC

Larnaca

Larnaca is the home of Cyprus' main International Airport, close to the Salt Lake area, a place where you can watch Swan's and Flamingo's that live in the lake. On its coastal seafront, the cafe's and restaurants are peaceful.

On the edge of Larnaca Bay the palm-lined seafront of Larnaca town bustles with cafes, tavernas, shops and bars. Historic charm is lent to the scene by its fortress castle, now used as the town's summer cultural centre.

Larnaca is an excellent base from which to get to know the central and eastern section of Cyprus, and its proximity to the International Airport and a number of luxury hotels that have been developed along its beautiful sandy beaches make this a popular holiday choice. Larnaca is the modern gateway to Cyprus, known for such sights as the beautiful St. Lazarus Church and leisurely Palm Tree Promenade.

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* Land Deeds
* Large Roof Terrace
* Prime Location
* Suitable For Cyprus Permanent Residency
* Resale
* Energy Efficiency TBC

Skala
Skala

County: Larnaca

Sale Type: For Sale

Ref #: EPCC2400

Parameters	Larnaca
Rent Per Month
Apartment (1 bedroom) in City Centre	$ 1 018.25
Apartment (1 bedroom) Outside of Centre	$ 774.24
Apartment (3 bedrooms) in City Centre	$ 1 659.68
Apartment (3 bedrooms) Outside of Centre	$ 1 293.87
Buy Apartment Price
Price per Square Meter to Buy Apartment in City Centre	$ 3 144.54
Price per Square Meter to Buy Apartment Outside of Centre	$ 2 207.40

Parameters	Larnaca
Crime Index	28.40
Cost of Living and Rent Index	39.44
Purchasing Power Index	67.03
Property Price to Income Ratio	9.15
Safety Index	71.60
Traffic CO₂ Index	10693.20
Traffic Inefficiency Index	410.76
Rent Index	22.36
Health Care Index	58.82
Groceries Index	53.87
Pollution Index	50.34
Traffic Commute Time Index	41.20
Restaurant Price Index	52.41
Climate Index	94.95
Cost of Living Index	53.83
Quality of Life Index	149.10
Traffic Index	209.39

Parameters	Larnaca
Restaurants
Meal, Inexpensive Restaurant	$ 16.51
Meal for 2 People, Mid-range Restaurant, Three-course	$ 52.29
McMeal at McDonalds (or Equivalent Combo Meal)	$ 8.81
Domestic Beer (0.5 liter draught)	$ 3.30
Imported Beer (0.33 liter bottle)	$ 4.95
Coke/Pepsi (0.33 liter bottle)	$ 1.88
Water (0.33 liter bottle)	$ 0.98
Cappuccino (regular)	$ 3.62
Markets
Milk (regular), (1 liter)	$ 1.72
Loaf of Fresh White Bread (500g)	$ 1.94
Eggs (regular) (12)	$ 3.92
Local Cheese (1kg)	$ 15.73
Water (1.5 liter bottle)	$ 0.84
Bottle of Wine (Mid-Range)	$ 7.69
Domestic Beer (0.5 liter bottle)	$ 1.80
Imported Beer (0.33 liter bottle)	$ 2.97
Cigarettes 20 Pack (Marlboro)	$ 5.50
Apples (1kg)	$ 2.90
Chicken Fillets (1kg)	$ 8.83
Oranges (1kg)	$ 2.23
Potato (1kg)	$ 1.49
Lettuce (1 head)	$ 0.68
Rice (white), (1kg)	$ 3.15
Tomato (1kg)	$ 2.72
Banana (1kg)	$ 1.98
Onion (1kg)	$ 1.53
Beef Round (1kg) (or Equivalent Back Leg Red Meat)	$ 12.88
Transportation
One-way Ticket (Local Transport)	$ 2.64
Monthly Pass (Regular Price)	$ 49.54
Gasoline (1 liter)	$ 1.54
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)	$ 25 869.01
Taxi Start (Normal Tariff)	$ 7.16
Taxi 1km (Normal Tariff)	$ 2.20
Taxi 1hour Waiting (Normal Tariff)	$ 27.52
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car)	$ 31 373.05
Utilities (Monthly)
Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment	$ 203.84
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)	$ 36.02
	$ 21.73
Salaries And Financing
Average Monthly Net Salary (After Tax)	$ 1 462.47
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate	3.80
Sports And Leisure
Fitness Club, Monthly Fee for 1 Adult	$ 69.19
Tennis Court Rent (1 Hour on Weekend)	$ 34.86
Cinema, International Release, 1 Seat	$ 11.01
Clothing And Shoes
1 Pair of Jeans (Levis 501 Or Similar)	$ 77.06
1 Summer Dress in a Chain Store (Zara, H&M, ...)	$ 33.02
1 Pair of Nike Running Shoes (Mid-Range)	$ 88.06
1 Pair of Men Leather Business Shoes	$ 104.58
Childcare
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child	$ 440.32
International Primary School, Yearly for 1 Child	$ 11 741.96

3 bedrooms Apartment in Larnaca, Cyprus No. 36780

Property description

Features