Traditional building in Central Olhao with 2 large apartments in need of renovation and a functioning commercial unit. Huge roof terrace. 2 minutes walk from the water.
With the huge Marina Village development now complete and the luxury Del Mar Marina condominium soon to follow along with 6 or 7 other projects in varying stages of construction, there has surely never been a better time to invest in booming Olhao.
Tucked away on the banks of the Ria Formosa National Park - a beauty unto itself - the secret is out and Olhao is welcoming investors with a warm Algarvian welcome.
Situated as it is, this building offers a prime location at the heart of the historic old town that new developments simply cannot match. On the municipal square and just 2 minutes walk from the water and the famous old market everything Olhao has to offer is within a leisurely stroll away.
Officially classed with a typology of 8, the building is home to 3 separate fractions.
On street level is a commercial unit with a sitting tenant providing an established rental stream in a prime location, as well as the smaller of the 2 apartments with high ceilings and access to the main square at the front as well as the street behind.
Upstairs brings us to the main apartment with a layout typical of it's era with many conjoining rooms and spaces - ripe for renovation in to a modernised, high end property.
The rooftop terrace is of a very large size and offers panoramic rooftop views of Olhao.
Nearby places of interest include -
Cafes, bars and restaurants are on the doorstep.
The waterfront, with the famous Old Market is 2 minute's walk from here
The ferry to the island of Armona is 3 minute's walk away
Faro International Airport is just 17 minute's drive away
The train station is 5 minute's walk from here
For more about the beautiful Algarve click here Living in the Algarve - Things to do in the Algarve [A Foreigner's Guide] (portugalhomes.com)
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