For Sale: Apartment for Renovation with Investment Opportunity in City Center

This apartment is located on Rehov HaMaalot at the corner of Rehov King George.  In terms of location, this is the center of the City Center and walking distance to everything !!!

HaMaalot Map

The apartment is about 85 square meters of living area currently divided into three studio units and in need of total renovation.  It’s situated on the 4th floor in an older building with a Shabbat elevator, small succah balcony, lots of natural sunlight and views of southern Jerusalem.

Hamaalot building

Below is a sketched floor plan converting the apartment into a three bedroom, 2 bathroom apartment.

F PLAN 2 HAMAALOT

Asking Price: 2,200,000 ILS

Assuming an additional investment to renovate and furnish, a mortgage of 50% of the purchase price and operating the apartment as a short term rental apartment, this property has the potential to yield an annual return on investment of approximately 6.0%.

Agency fee equal to 2.0% of Purchase Price plus VAT applies

In cooperation with another agency – Principle Buyers Only

 

For more information or to schedule a showing:

Francine Bork, Licensed Real Estate Broker
JerusalemIsraelRealEstate.com
Israel: 972-54-7980813
USA: 347-828-7889

Or send an inquiry …

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