Investment Opportunity 11 Units Complex Sea Views At 300 Meters To The Beach In Kavros, Chania Crete

This is a 1991-built multi-unit residential complex of 575,8,81 sqm (348,78 on the ground floor and 227,03 sqm on the first floor) plus a basement of 259,13 sqm situated on a 4.028 sqm level ground, fully fenced plot.

Located in the high-demand touristic zone of Kavros - Apokoronas, the property sits just 300 meters from the coastline with beautiful sea views and easy access to the National Highway and proximity to Chania/Heraklion airports.

It offers immediate income-generating capacity with significant ”Value-Add” potential through renovation and conversion into a high-yield boutique hospitality business.

The building which was authorised in 1991 has been renovated and extended in 2005 with on other ground floor body building of 108 sqm.

It offers Total 11 Units (apartments).

The Basement (259,13 sqm) is currently utilized as storage/warehouse space.

On the Ground Floor (348,78 sqm) there are 8 units:
- 2 two-bedroom apartments and
- 6 one-bedroom apartments

First Floor (227,03 sqm) comprises 3 units: 2 two-bedroom apartments and one studio.

The apartments offer private bathrooms, fitted kitchens, fitted wardrobes in the bedrooms, air conditioning, solar panel for hot water, parking place.
The Construction has been made by reinforced concrete frame and slabs; brickwork walls; aluminium frames; ceramic tiling and its maintenance status is rated as ”Good.”

Investment Analysis
- Current Status: Fully operational with monthly rentals providing immediate cash flow.

- The Opportunity: The property currently holds untapped potential as it used as for long-term residential rental. Given the 300m distance to a prime sandy beach and the size of the plot, the optimal ”Highest and Best Use” is a full renovation into a luxury touristic apartment complex.

- Infrastructure: All utilities and services are in place. The outdoor area includes a landscaped courtyard and established parking.

Keys features:
- Prime Location: High-traffic touristic area with great views to the sea and countryside, walking distance to the famous beach and amenities.
- Versatility: Large plot allows for further landscaping (pools, bar, etc.) to increase the average daily rate. A large basement that could be turned in accommodations and/ or other utilities spaces.
- Income Generating: No ”dead period” during the transition and planning phase.