Complex of 9 Apartments in Ornos Mykonos, Hotel Mykonos for sale

Complex of 9 Apartments in Ornos Mykonos, Hotel Mykonos for sale
Akra Alogomandra, Greece
SOLD 2,400,000€ - Hotels For Sale Greece
ALEOMANDRA9 390 m2 9 Bedrooms 9 Bathrooms 2100 sqm

Complex of 9 Apartments in Ornos Mykonos, Hotel Mykonos for sale

All rooms have sea and pool view
A complex of studios that combines tradition with modern architecture offering the absolute holiday experience.
Its unique, sheltered location with view at the Aegean blue completes the picture of unique summer relaxation.
 It consists of two buildings of traditional architecture, each one has 2 double space and 2 single space bedroom apartments that can accommodate 2 to 4 people.
Each apartment has a fully equipped kitchen, air condition, ceiling fan , wifi, TV set, living room (2 sofa beds), double bed and toilet .
All apartments have unique and direct view to the sea (75m distance) .
 Stylish design. Extensive view. Garden. Close to Mykonos town. Traditional Cycladic architecture. Modern and stylish design. Mykonian architecture. Sunrise view. Sunset view. Spacious. Quiet area.

9 Bedrooms
9 Bathrooms
390 m2 (Building)
2100 m2 (Plot)

The mixed income of the Hotel is 150.000 euro
This income is achieved last year by renting only the 7 from the 8 Apartments ( the 8th owners keep it for themselves)
the Total Tax of this income is 23.000 euro
The Property expenses are  5.000 euro :
Analyse this cost  : For electricity, internet (around 2.500 euro) plus 2,500 because the filled the pool with sweet water this year instead of sea water.
The yearly property Tax (called ENFIA) is 2.000 euro
The Salaries are: 7.500 euro for the  manager , 7.500 euro for 2 cleaners ( can be also work with one if someone wants to)
10.000 euro is the VAT
NET INCOME: 80.000 – 85.000 euro approximately
Regarding the land infront of the property, cannot built because of the Greek Building regulations. The law allows to built 50 meters after the seafront . The hotel is 75 meters from the seafront, so the land infront of the Hotel  with the remaining size (75-50=25 meters line) cannot built anything.
Hotel owners are from Athens, they grandfather bought this hotel for their children.

The profits can be even more with a longer season and a better operation.

If the new buyer renovates the hotel can go for much higher profits.

2km distance from Ornos beach. From there you can go by boat to Delos and other famous beaches such as Psarou Elia and Paradise. The cosmopolitan town of Mykonos with its picturesque streets, shops, restaurants and bars is just 4km away, same as the International Airport.

 

Mykonos at a glance

Mykonos is located to the area of the central Aegean Sea and belongs to the prefecture of Cyclades. Its total surface is 26.370 acres, while the length of its shores reaches 81 kilometers. Mykonos is the most famous of the group and attracts a large number of intellectuals, artists, and members of the international “jet set.”

Why invest in Mykonos

Mykonos’s blooming economy, reputation for innovation and the ease of doing business make it an attractive place to invest. There is a steady increase in the number of visitors from all over the world who make Mykonos their preferred destination, creating a wider base of origin countries and new demands for services, facilities, and attractions.

International buyers and investors will find:

  • a wide spectrum of business opportunities
  • a welcome environment for new investments
  • an institutional and legal framework that facilitates the implementation of investment projects.
  • Flexible immigration policies designed to facilitate access for investors and entrepreneurs.
300 meters form the beach

INITIAL SALE PRICE: 2.400.000€

 

Agent Kostas Taralas

Kostas Taralas Owner of Greek Exclusive Properties

Kostas Taralas  is the owner and founder of  Greek Exclusive Properties,  Luxury Homes & Villas in Greece  Specialist.
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Kostas Taralas Owner of Greek Exclusive Properties

Kostas Taralas