Large and sunny 1,281 sqm residential building in the exclusive area of Palma Old Town. A prime location in one of the most exclusive areas of the city. This 3,5 M € beautiful 4 storey building is an excellent investment.
KEY FEATURES
Total built area: 1,281 sqm Nº of floors: Ground floor - 3 floors - penthouse Terraces: 135 sqm total in the building Year built: beginning of 20th century Technical inspection: the building passed the technical inspection (ITE) in 2007 Urban protection level: "Old Town" -R4: roofs, volume, main facade and floors must be kept.
SAN MIGUEL AREA
This beautiful building set in Calle San Miguel in the Old Town of Palma is strategically located in the heart of Palma center, a few steps away from the famous market Mercado del Olivar and the Plaza Mayor square.
This building in Calle San Miguel in Palma offers many of the city's privileges that are available to few. Close to the famous market Mercado del Olivar, within 30 metres, where a selection of the best fresh and seasonal products can be found brought each morning directly from the farms or the sea.
Surrounded by the best boutiques, shops and restaurants, just off the Plaza de España square and at a short walking distance from the Palma train, metro, and bus stations.
The building is just off the direct pedestrian access to the underground car park of the Plaza del Olivar square where cars can be easily parked and rented by month.
THE BUILDING
This exclusive building is located in Calle San Miguel street at the interjunction with Plaza del Olivar. The views are stunning and the light unbeatable.
The property was built at the beginning of the 20th century.
The total area amounts to 1,281 sqm, 135 sqm corresponding to different terraces.
The building is distributed on several levels: a ground floor with the main entrance and 3 commercial properties.
Three 241 sqm levels of and a 64 sqm penthouse boasting a private terrace of 54 sqm.
The different floors currently house 6 apartments and 3 commercial properties (as previously mentioned).
This property is not only special for it's excellent price, 3.500.000 euros, but also for its location in an exclusive area of Palma de Mallorca. A real investment opportunity for investors interested in renovating the property and turning it into 8 apartments (5 of which could have their own private terrace).
The resulting apartments would be quickly sold or rented due to the strong and increasing demand of this kind of properties, both in purchases and rentals, and also due to the shortage as it is very difficult to find new developments in historical buildings in Palma Old Town, boasting amazing views, lots of light, terraces and a car park just 10 meters away.
There is so much potential to this beautiful, spacious and bright property that could be taken advantage of with some renovation and decoration!
Just check the price and call us, even if it's just to double check the information we have provided. We love to show this property. We are positive that once you have seen it you won't give it a second thought and will be willing to buy it.
