Kolonaki | The Art Of Living Well | 137 Sq.M. With Private Parking | €1,140,000

Property Code: 7-713. An address of distinction.
The architectural generosity of another Athens.
And the freedom to design the next chapter. A short distance from Kolonaki Square, in a well-maintained 1972 building with a distinctive architectural identity, PANTOU REALTORS is bringing to the market a 137 sq.m. apartment on the 4^th floor that retains the elegance of the old urban residence, with one additional privilege rarely encountered in the area: a private parking space, which is included in the overall price of €1,140,000. 

The first impression belongs to the reception spaces.
Living room, everyday sitting area and dining room communicate in a generous, unified composition, with marble floors and natural light.
The front terrace has adequate width, capable of accommodating a table and seating — an outdoor space that can be used and not merely photographed. On the rear side the residence acquires a different rhythm.
The two main bedrooms, with wooden floors, look onto a quiet light well with greenery and discreet neighbouring buildings.
A private, more serene aspect of Kolonaki, in contrast to the liveliness of the streets around the square. There are two bathroom spaces — one full bathroom and a second WC with shower — as well as an independent kitchen.
The former service room can retain its auxiliary use or be converted into a wardrobe or internal storage.
A separate cupboard for laundry and a linen cupboard for bed linen reveal the functional care with which residences of this era were organised. The building has two lifts, main and service, with a second entrance to the apartment from the service lift.
Only two properties share the floor, which is at a height corresponding to a fifth floor due to the presence of a mezzanine. The wooden windows, the marble in the reception spaces, the parquet in the bedrooms and the dual-aspect layout compose a residence with a clear architectural origin.
Central oil heating operates normally.
There are also a security entrance door, night-rate electricity, a satellite dish and an underground storage room of approximately 3 sq.m. 

The private parking space with a separate title of ownership is included in the sale price.
Its individual value has been determined within the overall purchase proposal.

Beyond owner-occupation, the property offers four different possibilities of investment exploitation.

01 | LONG-TERM RENTAL — AS IT IS: The first concerns long-term letting in its existing condition.
An indicative asking-rent range of €1,900–€2,500 per month would correspond to a gross annual yield of approximately 2.00%–2.63% on the overall purchase price of €1,140,000, before taxes, expenses and vacancy periods.
02 | RENOVATE & RENT: The second option is substantial renovation and the placement of the apartment on the higher-specification residential market.
With a redesigned kitchen, contemporary bathrooms and careful interior, an indicative asking-rent range of €2,800–€3,800 per month could be examined.
With a hypothetical renovation budget of €150,000, the overall base of purchase and works stands at €1,290,000, with a corresponding gross annual yield of approximately 2.60%–3.53%.
03 | ACQUIRE & RESELL — WITHOUT RENOVATION: The third strategy concerns purchase and resale in the existing condition.
With an asking price of €1,140,000, the resale price would need to cover not only the purchase price but also the costs of acquisition and disposal.
04 | RENOVATE & RESELL: The fourth strategy concerns architectural upgrading and resale as a renovated residence in Kolonaki.
An expected target-price range of €1,300,000–€1,500,000, with the private parking space, should be evaluated on the basis of the final level of renovation and comparable actual transactions.
With works costing €150,000, the base of purchase and renovation amounts to €1,290,000, before taxes, fees and other expenses.

Kolonaki Square, the galleries, the boutiques, the restaurants, the museums and the distinctive daily life of the area compose the immediate environment of the residence.

For someone this will be their next personal home.
For someone else, a property that can be redesigned, let or repositioned on the market.
In both cases the essential advantage remains the same: AN ATHENIAN ADDRESS OF DISTINCTION.
A HOME READY FOR ITS NEXT ERA.