The Algarve Property Specialists
Full Screen

Large villa, now successful apartment rental business, Olhos de Água, Albufeira

Villa in Olhos de Água

ref. VM1453
595.000€
  • E
  • 7
  • 5
  • 185m2
  • 1.200m2

This is an excellent opportunity to purchase a large 7-bedroom villa in a quiet area of Olhos de Água, yet within walking distance of all amenities and the beach. Currently utilised as 5 individual apartments. Three of the apartments generate very successful rental income and the basement area has been converted to further flexible accommodation.

Usage
Residential
Type
Villa
Town
Olhos de Água
Parish
Albufeira e Olhos de Água
Municipality
Albufeira, Faro
Region
Algarve (Central)
Construction Year
1995
Renovation Year
2014
Rooms
9
Bedrooms
7
Bathrooms
5
Floors
3
Living Area
185 m²
Usable area
285 m²
Plot Area
1.200 m²
Tarmac, Driveway
Driveway, Carport
Lounge
Garden Terrace
Fully Fitted
Storage Room
2 on Basement, 2 on Ground Floor, 3 on First Floor, Fitted Wardrobe
5 Bathrooms
Alarm System, Solar (Water), Internet/Phone, Cable/Satellite TV
All mains, Gas Bottle
Double glazing
10x5m, Manual cover
Landscaped
Country-side View
• Living Area 185m², Construction area 285m²
• Plot 1.200m²
• 7 bedrooms, 5 bathrooms (5 apartments)
• Constructed 1995, Renovated 2014
• 10x5m Heated Swimming pool
• 3 apartments with AL licence
• Excellent financial history

This beautiful property is in a lovely quiet location situated very close to all required amenities and only 15 minutes’ walk from the picturesque Praia do Olhos de Água.

The property consists of 5 separate apartments, 3 of which have an AL licence for renting and the remaining 2 are currently being processed. This is a great opportunity to purchase a fully running and successful business with private accommodation. Each apartment is afforded very good-sized rooms with all amenities that you would expect to enjoy your stay.

This detached villa on the edge of Olhos de Água is afforded space on all sides, sitting centrally on a generous plot of 1,200m² which gives plenty of room and freedom of movement for tenants and owners in terms of parking and storage. Good outside patio areas and verandas maximise alfresco living along with a barbecue area and private swimming pool.

Basement (1 side is on the pool level, the other side is underground) has 2 x T1’s (waiting for AL Licence)
The ground floor is a T2 and is currently used as the owners’ accommodation.
First floor 1 x T2 apartment and 1 x T1 apartment.

This would be a perfect property for someone looking to purchase and continue a successful business in a great location. Alternatively, the property could revert to its original single accommodation use as a large residence or holiday home.

Amenities

• Double Glazing
• Solar Electricity and water
• Satellite TV and Internet
• Air conditioning
• Driveway and carport

Location

• Distance to beach 950m
• Distance to golf 1.2km
• Distance to Albufeira 7Km
• Distance to airport 33.2km
• Distance to nearest school 500m