Investment Santorini – Small Hotel Project (Can be also used as a private Villa)

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Property ID : SANTORINI026

For Sale 950,000€ - Hotels For Sale Greece, Villas for Sale Greece
105 sq.m + 81sqm yard+land 4 Bedrooms 3 Bathrooms Print

Investment Santorini: BIG INVESTMENT OPPORTUNITY IN SANTORINI

DESCRIPTION:

The property is located in Imerovigli, offers unique views of the town of Oia and of Thirasia island. You will also enjoy uninterrupted views of the world-famous Santorini sunsets even from inside the houses and bedrooms. The property includes three independent houses on a plot that extends all the way down the magnificent Caldera cliff. Plus a plot of 70 sq.m at the end of the property, the edge of the caldera, literally floating in the air.
House #1:The Cave

The Cave House is a traditional Santorini house. The Cave is literally carved into the rock, with a vaulted roof. It is divided in two parts by a wall. In the front part you are welcomed into living room and kitchenette and to the right is the first bedroom while in the back you will find the second bedroom. Light and ventilation are provided by the facade of the house, the main entrance being in the center with a window right and a traditional iron skylight above. It is 51 square meters including two bedrooms, one living room with kitchenette and WC with shower. It has a traditional yard of 81 square meters with a fragrant flower bed, a unique (in Santorini) fig tree (beautiful) and a traditional wood stove.
House#2: The Studio

A traditional studio with its own entrance including the small cave house. It is a one bedroom studio of approximately 25 square meters including a WC with shower and a kitchenette. It has a 10 square meters terrace and a veranda where you can relax and enjoy the glorious sunset views. There is also the capability for internal ladder with the Small Cave house.
House#3: The Small Cave

This house is built right under the studio. In approximately 35 square meters, it includes one bedroom, a living room, WC with shower and kitchenette. It has a 25 square meters traditional yard with, again,spectacular sunset views of Caldera.
Plot: 70 sq.m plot that can be used to create a pool

There is also the permit to build more  at the yard at the upper house. Ability to built 40 sq.m extra, making or a new small house at the yard, or expanding the villa into a big villa of 90 sq.m.

By doing that, expanding the current villa at the upper level, the new terrace that will be created it can become a terrace with build in  jaccuzi and amazing caldera and sea views.
NOTES

The property is located between luxury boutique hotels like the Hotel A***: https://a***-online.net/ and the A**Hotel: http: //www.a******

These 3 properties only for this summer were managed from the hotel R***: http://www.re***santorini.com/ with rental value of 400 euros/night each in May and the rental price went higher during the high season (500-550 euro per night each).This property is perhaps one of the few in the island of Santorini where you can build legally! The engineering plans are in your disposal. The property has remaining building allowance at the top level where the big house is and can built additional 2 suites of 20-25 sqm or one large suite of 40  sqm or expand the current villa into a 3-4 bedrooms villa of 90sq.m

With a Conservative study, and based on the adjacent boutique hotels, all suites can be rented from 400-500 euros per night. The income result of annual turnover aspirations  laying at 200.000 euro per season. You realize then that property is probably one of the best investment opportunities  in the island as the Return on Investment is around 17-20%

The engineer estimates that for a quality construction the construction cost will not exceed 1000 euro per sq.m. therefore an additional investment of 40-50.000 euro it may be required.

Investment Santorini: In a very privileged location of famous Imerovigli this property has 3 Cave Houses at Caldera and a land plot at the lower level . It’s Location is excellent next to famous 5* Hotels. It can be bought and developed, become one Luxury small Boutique Hotel of 3-4 Caves and generate an income frοm rentals about 500 euro from each cave house per day! Amazing views at caldera and the sea, amazing sunsets at the most prestigious island of the world! 3 Balconies at the edge of the caldera, and a big terrace that can become a beautiful spot with sunbeds offering a luxury service to your guests above the sea.Plus a big private yard with caldera and sea views that can be developed a pool or a big Jacuzzi.SIZE of the 3 ready to rent and accommodate caves are 50 m2, 30 m2 and 25 m2. The property can be also used as a private villa. You can connect the 2 cave houses and have 2 properties, one villa with yard and one property in 2 levels at the lower level with yard or pool.

This investment is very rare to find! The price is very competitive in sale prices of the caldera of Santorini . This property is offered exclusively from our office with heavily reduced price!

In Santorini, one cave at the caldera, just ruins that need total make over, costs minimum 300.000 euro. This property has 2 ready caves at caldera, plus a villa with big yard. The price of this property should be at least 300.000 – 350.000 for each cave and 550.000 for the villa. Plus the land plot that can make a pool, or a dining area. Summarizing this property in real current prices of Santorini should cost 1.3 million and now is offered at 950.000 euro!!!

Do not hesitate on this great Investment Santorini opportunity. Santorini, voted as the No1 Travel Destination in the World many years in a row from Tourism organizations and media like US Today, Leisure and Travel and many more!

 

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