208 Sq.M. Of Rare Surface Area Between Kypseli, Evelpidon And Pedion Tou Areos. The Next Move Belong

Property Code: 7-771. How often does an apartment of 208 sq.m. appear on the central Athens market, with reception spaces that recall the urban residence of another era, a few steps from one of the largest gardens of the city?
And, above all, what could be done with it today? A family home with four bedrooms, an architecturally interesting city residence, a professional base close to the Evelpidon Courts, or even two smaller residences?

On the third floor of a six-storey 1955 building, on a plot of 258 sq.m., the dual-aspect, front-facing property develops on a scale that is rarely encountered in today’s constructions. The large living room with fireplace, the possibility of an independent dining room and the generous circulation spaces create the conditions for a residence with real architectural presence.

Three bedrooms, the possibility of a fourth, two bathrooms with bathtub and two additional WCs allow different scenarios of living or professional organisation. 

The wooden parquet floors lend character, while the front terrace of 10 sq.m. with a view of Lycabettus connects the interior with the open urban horizon of the area.

There are awnings, aluminium windows with double glazing, air conditioning, central natural gas heating, a security entrance door and an older-generation solar water heater.

An underground storage room of 5 sq.m. is included.

The building comprises 15 units and has a renovated lift. 

Let us look at the essence of the investment proposal: you are not simply buying a ready-made aesthetic.
You are acquiring 208 sq.m. at €2,163 per sq.m., with the possibility of redefining the layout, the installations and their character. Three indicative scenarios of exploitation:

01 / Large-surface urban residence:
A targeted renewal, with an indicative budget of €60,000–€100,000, could upgrade the kitchen, bathrooms, lighting and selected installations.
Total capital of purchase and works: approximately €510,000–€550,000.

02 / Complete residential redesign:
With an indicative cost of €130,000–€190,000, depending on the extent of the interventions, the property can be redesigned as a contemporary family residence with higher specifications.
Total investment: approximately €580,000–€640,000.

03 / Two independent units:
Division into residences of different surface areas for owner-occupation and/or investment exploitation.

For long-term rental of the entire property as a residence, a range of exploration after appropriate upgrading is €1,700–€2,300 monthly.
For professional office use, approximately €1,600–€2,400 monthly.
Correspondingly, a resale value after quality renovation in the area of €2,800–€3,300 per sq.m. would correspond to approximately €582,000–€686,000.

The position of the property adds a second level of value.
Pedion tou Areos, Plateia Agiou Georgiou, the Evelpidon Courts, Patision and Victoria station compose an area where residence, professional services, greenery and the daily life of the centre coexist.
The planned extension of the METRO network with Line 4 reinforces the long-term prospect of accessibility.

The ownership is offered at €450,000 with the intention of immediate completion of the sale through PANTOU REALTORS.
For buyers with available capital and the possibility of rapid technical and legal examination, there is reason to schedule a visit without delay. The opportunity here is the possibility of acquiring an unusually large surface at a specific entry price and of utilising it with a clear plan.