Land plot for sale, Dainas street, Centrs / 1500000€

Property description

Land with an apartment building construction project and commenced construction.

The project includes 33 apartments with an average area of 68 sqm (total 2,159 sqm + 21 balconies of 104 sqm = 2,263 sqm), plus 9 parking spaces (362 sqm) and 17 storage rooms in the basement.
Total area 3131 sq m.

The building permit expired in February 2025. Construction work began in the summer of 2022 but was halted after six months.

Currently, the following has been constructed on-site:
- Pile field, micro-piles for the building at Dainas 6, zero cycle, basement level (-1);
- First and second floors;
- Connection to Riga's district heating system.

The building is designed for 1 to 4-room apartments ranging from 27 to 135 sqm. All apartments feature floor-to-ceiling windows. The ceiling height is approximately 275 cm. Each apartment has a kitchen area combined with the living room. Depending on the apartment, the bathrooms are equipped with either a shower or a bathtub.

There is also an option to finance the project with EUR 800,000 instead of purchasing it outright, as a bank loan of EUR 2,600,000 has been approved.
To date, EUR 2,000,000 has been invested in the project, including land acquisition, project development, construction work, etc., none of which is mortgaged.

More detailed information is available upon request.
A 2023 valuation of both the existing property and the completed project is available.

• Location: park nearby, shops and cafes nearby, schools and kindergartens nearby, convenient public transport
• Communications: city heating, city water supply, city sewage
• Security: closed territory

Object on the map