Fully Renovated Investment Building With Private Garden And Rooftop

An exceptional investment opportunity in the vibrant heart of Neapolis–Exarchia, this distinguished 1948 villa—originally constructed by renowned Athenian furniture design firm Dimitris Varangis—has undergone a €200,000 renovation in 2026, restoring its architectural character while transforming it into a premium dual-unit residence ideal for both short-term hospitality or long-term leasing.
Spanning 372 sqm across two levels and a semi-basement - with the ability to build four additional floors of 479 square meters of living space.

This property is comprising two independent apartments with AMA (short-term rental registration), fully renovated and furnished to boutique hotel standards. The ground-floor apartment features 3 bedrooms and 3 en-suite bathrooms, with exclusive use of a private garden. The first-floor apartment offers 4 bedrooms with 4 en-suite bathrooms and exclusive use of a rooftop garden. There is also the potential to add an additional 4 floors, bringing the total buildable area to 479 sq.m.

Property highlights:

● Ready-to-rent: Both apartments are fully equipped for use (2026) on Airbnb, boutique hotel platforms, or as high-yield long-term rentals
● Modernized infrastructure: upgraded electrical panel, new flooring, painting, and more
● Retains original 1948 charm with refined modern comforts
● Quiet yet central Neapolis–Exarchia location, close to universities, hospitals, and museums
● Separate entrances for each unit for maximum privacy and rental flexibility
● Ability to add four extra floors to a maximum height of 21 meters and 479 square Meters

This is a rare opportunity to own a fully revitalized historic property in one of central Athens most dynamic and culturally rich neighborhoods—perfect for discerning investors seeking income-generating real estate with character and quality.

Location: Lying in the foot of Strefi’s hill and in close distance to Lycabettus hill, Exarcheia is located right in the heart of Athens neighboring Syntagma, the Historical Center and Kolonaki.
Unique features: Exarcheia is a vibrant area full of vinyl record stores, bookshops, publishing shops, Universities, libraries, a community-created park, artful graffiti, cool bars, small restaurants with local food and coffee shops . It can be a great place to explore, with its quirky stores, picturesque small alleys, some of the most beautiful neoclassical architecture buildings, and a probably edgy yet vibrant cultural vibe. With a distinctly different vibe to any other part of town, Exarcheia has retained its old Greek charm while welcoming in a new artistic crowd. Neighboring Kolonaki area and just a few meters away from Syntagma square it is one of the most appealing areas in the city center. Exarcheia is rising up to a new era, becoming a sought after neighborhood of Athens.
Accessibility: Extremely well-connected by 3 surrounding metro stations plus a new metro line scheduled to stop right in the center of the area. Bus services and trolleys connect Exarcheia to the rest of Athens. The airport is 50 minutes to an hour away by express train and direct buses while the surrounding avenues make it an easily accessible destination from other areas.
Investment potential: Its central location combined with the Universities of the area plus the upcoming new metro line make it an ideal area for investment.

Furnished, Built-in kitchen, Fully air-conditioned, Green view, Building view