Single-family detached house 122 m², to be refurbished, Center, Lesbos - Mitilini

Prime Investment Opportunity – Detached Residence 122 sq.m. in the Historic City Center A rare investment asset in one of the most sought-after locations of the city center, just 2 minutes’ walk from the central market. The property is situated in a quiet and prestigious neighborhood, below the Courthouse area and behind the Metropolitan Cathedral, combining absolute centrality with tranquility. This detached residence of 122 sq.m. is developed over two levels and benefits from three (3) independent entrances, a highly valuable feature offering exceptional flexibility for redevelopment and income generation. Property Layout Ground Floor – 67.02 sq.m. Kitchen, dining–living area, separate living room, storage room, bathroom and WC First Floor Three (3) bedrooms and a spacious veranda The property requires renovation, providing a blank canvas for a high-end redevelopment tailored to modern urban living or hospitality use. Development & Investment Scenarios Scenario A – 4 Premium Studio Apartments Conversion into four fully independent studio units Ideal for short-term rentals (Airbnb / Booking) High demand area with strong year-round occupancy Estimated Performance (Indicative): Average nightly rate: €80–110 Estimated annual gross income: €60,000 – €75,000 Estimated gross yield: 8% – 11% Strong upside through professional interior design and branding Scenario B – 2 Large Urban Apartments Conversion into two spacious high-spec apartments Ideal for long-term rentals or executive leasing Estimated Performance (Indicative): Monthly rent per unit: €1,100 – €1,400 Estimated annual income: €26,000 – €34,000 Estimated gross yield: 6% – 8% Lower management needs, stable cash flow Location Advantages Historic city center Walking distance to shops, restaurants, supermarkets Close to schools and cultural landmarks Prime area for tourism and residential demand Limited supply of similar properties in the area Investment Highlights ✔ Rare detached property in the city center ✔ Multiple independent entrances ✔ Flexible redevelopment potential ✔ Ideal for Airbnb or long-term leasing ✔ Strong demand & capital appreciation prospects A unique opportunity for international investors seeking a premium urban asset with high returns and long-term value growth. (All financial figures are indicative and may vary depending on renovation quality, market conditions and management strategy.)