District VII., Budapest, Budapest

This prestigious property, originally built in 1991 as an office building, offers an extraordinary opportunity for redevelopment into a boutique hotel. Situated in the bustling heart of Budapests District VII, the property boasts a prime location surrounded by the citys rich cultural heritage and iconic landmarks. With a total area of 1.527 square meters spread over six floors, along with a basement and attic, this building offers ample space for creating stylish guest rooms, inviting common areas, and top-notch amenities. The grand Italian marble staircase, elevator access, and well-maintained heating and cooling systems (gas and air conditioning) ensure a perfect balance of elegance and comfort for future guests. Key Features: Total Area: 1.527 sqm (including basement and attic) Floors: 6 levels, basement (222, 7 sqm), ground floor (198, 2 sqm), 1st floor (215, 8 sqm), 2nd floor (196, 9 sqm), 3rd floor (196, 9 sqm), 4th floor (196, 9 sqm), 5th floor (196, 9 sqm), attic (96, 7 sqm) Beautiful Italian marble staircase and elevator Heating and cooling systems already installed (gas heating, air conditioning) Option to purchase 20 parking spaces in an adjacent modern parking garage, fulfilling all urban parking requirements Price: 4.500.000 EUR (including the building and parking spaces) Buyers commission: 3% + VAT Redevelopment Potential: This property represents a unique and rare investment opportunity, with potential for completion of renovations by the end of 2024. The buildings flexible design includes easily removable drywall partitions, allowing for seamless adaptation to meet hotel design requirements. Its strategic location and modern infrastructure make it perfect for transforming into a boutique hotel that caters to both leisure and business travelers. The location, right in the heart of Budapests cultural district, ensures easy access to some of the city's most iconic attractions, including the renowned Jewish cultural sites, famous ruin bars, museums, and galleries. This vibrant neighborhood is beloved by tourists and locals alike, making it a prime spot for a hospitality investment. As one of the last available properties in this highly sought-after area, acquiring this building provides an exclusive opportunity to establish a presence in one of Budapests most coveted regions. Financial Highlights: Expected profitability from year 5 of operation Projected return on investment (ROI) of 20% Annual revenue from the 20 parking spaces estimated at 110.000 EUR Prime Location: Budapest City Center, District VII Budapest's District VII, especially its city center, is the beating heart of the capitals cultural and nightlife scenes. Known for its rich Jewish heritage, historic landmarks, and trendy ruin bars, the area attracts a diverse range of visitors, from history enthusiasts to nightlife lovers. The surrounding streets are lined with a mix of old-world charm and modern attractions, offering countless cafs, restaurants, shops, and cultural venues that enhance the lively atmosphere. This district is a hub for both tourists and locals, making it a perfect location for a boutique hotel. The nearby metro, tram, and bus connections provide easy access to all of Budapests major tourist spots, such as the Danube River, Parliament, and Buda Castle, ensuring guests can explore the city effortlessly. This propertys prime location allows investors to capitalize on Budapests booming tourism industry, catering to the growing demand for upscale accommodation in the citys most vibrant and sought-after district. Whether youre looking to attract leisure tourists or business travelers, this building offers the perfect canvas to create an unforgettable hospitality experience in the heart of Budapest. Dont miss out on this rare investment opportunity with high ROI potential in one of Europes most dynamic cities!