House for sale, Valdemāra street, Sigulda / 520000€

Property description

Investment property with high return in the heart of Sigulda, just a few minutes' walk from the town’s most notable landmarks.

Currently, the 1st, 2nd, and 3rd floors of the building are rented out, while the 4th floor requires renovation. The building or part of it can be converted to residential use by redesigning it into apartments.

The property consists of a land plot (1849 m²) with a 4-story office building covering 1183.6 m².

Located in a "Mixed-use central development area".

Utilities:
- Gas heating
- Air recuperation system
- City water and sewage
(All utilities were updated during the property’s renovation.)

The building was put into service in 1987and renovated (except for the facade) in 2018.

Development opportunities:

1. Expanding the existing 4-story building by utilizing the terrace area.
2. Converting the building into an apartment complex.
3. Constructing a new 4-story building along Kr. Valdemāra Street (approximate area of 1200 m²).
4. Adding additional parking spaces.

Object on the map