3-room flat to be refurbished, third floor, Plateia Amerikis, Patision - Acharnon

Property Code: 7-383:In one of Athens’ most intriguing micro-markets right now — just two minutes on foot from the beautiful Plateia Amerikis, with frontage onto a green pedestrian street that breathes life and everyday vitality — this 75 sqm 3rd-floor apartment in a building with a WONDERFUL entrance is not simply a flat in need of renovation.
It is a core value platform in an area with rapidly shifting demand, connectivity, and lifestyle amenities in Kypseli that many now consider “next-level central”.
The Area Context — Why Now?
Plateia Amerikis – Kypseli / Agios Nikolaos — a node of access and regeneration:
The district around Plateia Amerikis is developing on a steadily upward trajectory as an extension of central Athens.
It borders Kypseli, Kato Patissia, and Agios Nikolaos — all points with strong movement, access to multiple bus lines (054, 608, 622, Α8, 500, Β9) and trolley routes (3/5/6/11/14), and very close to fixed-track transport (Agios Nikolaos train station + future Kypseli METRO station).
Sale Prices — A Neighbourhood on the Rise:
In the wider Kypseli zone, average asking sale prices in December 2025 stood at approximately €2,124/sqm, with an annual increase exceeding +10%. This means a 75 sqm property at €130,000 (~€1,733/sqm) is significantly below the area average — and for that reason constitutes a clear entry point into a market with substantial upside.
Realistic listing examples:
Renovated apartments in the surrounding zone start from ~€185,000 for ~105 sqm, or similar 76 sqm units asking ~€200,000 — highlighting the gap from today’s €130,000 level for the same floor/size before upgrade.
Investment Reading — Rental & ROI:
Rental today (without renovation):
Current average rental in the wider Kypseli is around €9.5–€9.6/sqm/month, with steady demand over the past two years.
A 75 sqm flat in less-than-ideal condition today (no renovation) can lease for approximately €600–€800/month — prices reflected in rental platforms with comparable listings.
Potential rent uplift post-renovation:
With a renovation at ~€1,000/sqm (quality but not ultra-luxury), the property gains: Clean market appeal — higher aesthetics, functionality, more premium presentation on marketplaces Scope for unified living/loft layout Optimised kitchen and bathroom Modern lighting and tech infrastructureIn such a scenario, a similar refurbished 70–80 sqm unit in Kypseli can comfortably lease at €900/month long-term, especially when marketed to expat/executive catalogues thanks to future METRO access and central arteries.
ROI Calculation: Purchase cost: €130,000Renovation cost: ~€75,000–€90,000Total all-in: ~€205,000Expected rent (post-renovation): ~€1,000/month → ~€12,000/year
⇒ Net yield ~5.8% (with premium leasing/marketing networks)This is a highly competitive yield for a central urban market like this — particularly when connectivity, social functions and rising demand provide stable rental flow.
Resale Upside — “Flip” Potential:
Based on prices of comparable renovated apartments in the zone (€2,100–€2,300/sqm), the property after high-quality renovation can realistically target €185,000–€200,000+ in the sales market — implying value uplift of €55,000–€70,000+ in appropriate timing (Kypseli METRO operation) and correct market positioning, as Plateia Amerikis is the next Kypseli.
Why It Attracts Investors / Owners:
Strategic showcase location
Instead of “living under Patission”, you live on a green pedestrian street — with daily life flowing through cafés, markets and lifestyle restaurant spots (¡TOPA!, Atlas, Ntylan, Radikal), yet with the privacy and prestige many tenants seek — not just buyers.
Commons extremely low — ~€23/month:
A material advantage in yield calculation and overall profit margin.
Building with character — entrance & lobby that speaks
A wonderful marble entrance with columns, lighting and concierge is not just material: it creates perception value — perceived value far above “flat rent”.
Layout optimisation potential
The existing plan leaves room for spacious living/kitchen uses, while the extra pantry/storage room can be reconfigured into a utility room in the final design.
Conclusion:
This 75 sqm 3rd-floor apartment near Plateia Amerikis is not simply a flat needing renovation.
It is a value platform: with significant numerical distance from area average sale prices,
with rental upside made even more compelling by renovation,
and with a strong city + lifestyle narrative that turns a “central zone” into a premium city-living choice.
It appeals to: Investors wanting urban assets with upside in their portfolio Residents who want a home they can shape themselves Developers/flippers who understand that below-average pricing today means substantial margin tomorrowAcquire it today through PANTOU REALTORS.