3 bedroom property for sale in Lagos

Tremendous Opportunity for a high yield Investment in central Lagos on two fronts, a functioning 5 apartment guest house and supermarket attached. Sitting proudly on top of a hill and walking distance to the excellent beaches of Porto Dona Ana and Porto de Mos, with the historic old town centre a few minutes walk, the location is truly enviable and of a highly desirable nature. As development sweeps Westerly, Lagos is the last major hub of the Algarve. Holding city status and therefore containing all necessary amenities this bring, it retains the charm of a smaller entity due to the narrow, cobbled streets of the old town, many accessible beaches and distinctly laid back feel.

Lagos is the jewel in the crown of the ruggedly beautiful Southern Portuguese coastline. Contemporary bars, sophisticated boutiques and elegant restaurants blend pleasantly with surf shops, hipster hangouts and teeming terraces providing this small city with a truly cosmopolitan feel. The renowned family Guesthouse is established and resides above the commercial facility most recently utilised as a supermarket. The main, and largest apartment is a 2 bedroom with large living area and is currently functioning as a family home whilst still retaining 4 other apartments for rental income. Within the complex are two 1 bedroom apartments and a further 2 studio apartments. These are decorated in a more contemporary style than the main apartment and of course are fully equipped with their own bathrooms and kitchenettes.

The location is a few minutes walk from the bustling Historic Old Town centre in an area of high visibility and in the midst of renowned local restaurants. The large commercial space of 170m2 has previously been in use as a supermarket though has the scope and flexibility to transition into some other project of the new owners preference. The main space is open and is accessed by a few steps or a slope designed for those with limited mobility in mind. It is serviced with toilets to the rear and an office space front left. Admittedly in need of a general sprucing up, it is, in essence, a blank canvas and any works needed to be carried out are purely cosmetic. On the right side of the commercial unit is a secure iron gate behind which is the short steps up to the guesthouse itself. A car garage is also situated behind the gate. The entrance to the largest of the apartments opens into a hallway, with this artery serving the quarters comprising of an impressively sized main living / dining area with fireplace and direct door to the balcony. A spacious kitchen with pantry, 2 bedrooms with fitted wardrobes and 2 refurbished bathrooms round off this delightful, homely section. This portal also services the first of the one bedroom apartments, replete with kitchen, living area and tastefully renovated bathroom. There is a large communal terrace with BBQ and space for entertaining across which are the entrances for the remaining 3 apartments. The 2nd floor is home to another 1 bedroom apartment with excellent design, complete with living room, kitchen and clean, fresh bathroom. Also on this level is a comfortable studio apartment with kitchenette.

The 3rd floor incorporates a studio apartment, with extremely generous outdoor terrace with views, bathroom and kitchenette. The guesthouse has been in operation for a number of years and is prepared and ready to start turning a profit, with the bonus of a 2nd revenue stream available through the large commercial unit at street level. Nearby Points of Interest Include - Car Park is next door Cafes and Restaurants are on the doorstep The Historic Old Town Centre is a 7 or 8 minute walk, with excellent fish restaurants, local cafes, lively bars, busy terraces, museums, cinema, cultural centres, fashionable boutiques to name a few attractions Gyms, salons, post offices, healthcare all within the same distance The beautiful beaches of Estudantes, Jacoba, Praia do Pinhao and Praia de Dona Ana are