Business Plan for Seafront Building

General Information

• Location: Kato Almiri, near Corinthos
• Total Building Size: 534 sqm
• Apartment Breakdown (for each complex):
  1. Complex 3 (A3):
     • Semi-Basement: 88.74 sqm
     • First Floor: 88.74 sqm
     • Second Floor: 88.74 sqm
     • Total for Complex 3: 88.74 x 3 = 266.22 sqm
  2. Complex 1 (A1):
     • Semi-Basement: 45.32 sqm
     • First Floor: 45.32 sqm
     • Second Floor: 45.32 sqm
     • Total for Complex 1: 45.32 x 3 = 135.96 sqm
  3. Complex 2 (A2):
     • Semi-Basement: 45.33 sqm
     • First Floor: 45.33 sqm
     • Second Floor: 45.33 sqm
     • Total for Complex 2: 45.33 x 3 = 135.99 sqm

Scenario 1: As-Is Condition

Rental Income

• First-Floor Apartments:
  • Complex 3 (A3): €816/month = €9,792/year
  • Complex 1 (A1): €586.50/month = €7,038/year
  • Complex 2 (A2): €586.50/month = €7,038/year
  • Total for First Floor: €23,868/year
• Semi-Basement Apartments:
  • Complex 3 (A3): €673.20/month = €8,078.40/year
  • Complex 1 (A1): €499.80/month = €5,997.60/year
  • Complex 2 (A2): €499.80/month = €5,997.60/year
  • Total for Semi-Basement: €20,073.60/year
• Second-Floor Apartments:
  • Complex 3 (A3): €864/month = €10,368/year
  • Complex 1 (A1): €621/month = €7,452/year
  • Complex 2 (A2): €621/month = €7,452/year
  • Total for Second Floor: €25,272/year
• Total Rental Income:
  • €23,868 (First Floor) + €20,073.60 (Semi-Basement) + €25,272 (Second Floor) = €69,213.60/year

Operational Costs (3%):

• 3% of €69,213.60 = €2,076.41/year

Net Income:

• €69,213.60 – €2,076.41 = €67,137.19/year

Scenario 2: Post-Renovation

Rental Income

• First-Floor Apartments:
  • Complex 3 (A3): €1,215.50/month = €14,586/year
  • Complex 1 (A1): €794.75/month = €9,537/year
  • Complex 2 (A2): €794.75/month = €9,537/year
  • Total for First Floor: €33,660/year
• Semi-Basement Apartments:
  • Complex 3 (A3): €880/month = €10,560/year
  • Complex 1 (A1): €660/month = €7,920/year
  • Complex 2 (A2): €660/month = €7,920/year
  • Total for Semi-Basement: €26,400/year
• Second-Floor Apartments:
  • Complex 3 (A3): €1,430/month = €17,160/year
  • Complex 1 (A1): €935/month = €11,220/year
  • Complex 2 (A2): €935/month = €11,220/year
  • Total for Second Floor: €39,600/year
• Total Rental Income:
  • €33,660 (First Floor) + €26,400 (Semi-Basement) + €39,600 (Second Floor) = €99,660/year

Operational Costs (3%):

• 3% of €99,660 = €2,989.80/year

Net Income:

• €99,660 – €2,989.80 = €96,670.20/year

Property Valuation

• First-Floor Apartments with Terraces:
  • Complex 3 (A3): 88.74 sqm x €2,800/sqm = €248,472
  • Complex 1 (A1): 45.32 sqm x €2,800/sqm = €126,896
  • Complex 2 (A2): 45.32 sqm x €2,800/sqm = €126,896
  • Total for First-Floor Apartments: €502,264
• Semi-Basement Apartments:
  • Complex 3 (A3): 88.74 sqm x €1,900/sqm = €168,606
  • Complex 1 (A1): 45.32 sqm x €1,900/sqm = €86,108
  • Complex 2 (A2): 45.33 sqm x €1,900/sqm = €86,127
  • Total for Semi-Basement Apartments: €340,841
• Second-Floor Apartments with Rooftop Terraces and Jacuzzi:
  • Complex 3 (A3): 88.74 sqm x €3,700/sqm = €328,338
  • Complex 1 (A1): 45.32 sqm x €3,700/sqm = €167,684
  • Complex 2 (A2): 45.32 sqm x €3,700/sqm = €167,684
  • Total for Second-Floor Apartments: €663,706
• Total Valuation:
  • €502,264 (First Floor) + €340,841 (Semi-Basement) + €663,706 (Second Floor) = €1,506,811

This version reflects the adjusted operational costs of 3%, resulting in updated net incomes for both scenarios.

Key Features:

• Prime Location: Situated in Kato Alymiri, near Corinth, with direct beach access and breathtaking sea views.
• Development Potential: This property offers a fantastic opportunity for renovation and redevelopment.
• Spacious Apartments: Each apartment provides ample living space, with varying sizes and layouts to suit different needs.
• Outdoor Oasis: Enjoy the beautiful gardens and terraces, perfect for relaxation and entertaining while soaking in the stunning coastal scenery.
• Investment Potential: Ideal for short-term rentals, long-term leases, or creating a luxurious private residence.

Location: https://maps.app.goo.gl/AvBfppE5DeVfkVWB8

Details

Bedrooms
12

Rooms
22

Bathrooms
12

Property Size
534 sqm sqft

Land Area
400 sqm sqft

Garages
6