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about the property
- Nine one bedroom, one bathroom luxurious individual suites
- Each suite has a separate living room, kitchen & is fully furnished
- Five minute walk from Taksim square, transport links on your doorstep
- Excellent investment opportunity with capital growth & rental income
We are delighted to offer this unique apart hotel for sale, which is located just 500 metres away from Taksim Square in Beyoglu, the cultural, political and entertainment centre of Istanbul.
Taksim and Beyoglu are famous with a large variety of restaurants, bars, cafes, clubs, art galleries and much more. Large crowds come here every day, making this a perfect investment option.
The building itself is located in a rapidly developing residential neighbourhood surrounded by several large scale commercial and residential projects.
Following investments and wonderful properties are situated within 100 to 200 metres away, such as; the new Acibadem Hospital, Ofton Residence, the Rixos Hotel, the Divan Hotel, and the San City commercial centre.
Further hotels are with 200-400m which include the Hyatt Regency Hotel, Hilton Hotel, Ritz Carlton Hotel, Inter-Continental Hotel, Istanbul Congress & Exhibition Centre and the Hilton Convention Centre, however, there is nothing as unique as this on the market in this area at this price. You can make a very good income from this investment, or enjoy this building as your very own private luxury residence in such a prime location.
The local transportation available such as the Taksim Subway station is located only 300 metres away. Also at the nearby junction there are two major roads and highways, as well as the Kabatas sea port and tramway station, which is 600 metres away, access to all major bus lines are within a two minute walk.
The building stands on a plot size of 90 square metres, the base of the building is 75 square metres and it is five stories high. Total covered area is 375 square metres and there are nine individual units, each offering a 1+1 layout, i.e. separate bedroom, a living room with an open kitchen area and a separate bathroom. The units are 37 square metres each and there each have air conditioning, a fitted kitchen and there is a natural gas boiler on each floor
The building was built in 1954 and it has been renovated twice in 2008 and 2011. It currently operates as annex building to a hotel in Taksim and used for short or long term stays. The occupancy is around 75-80%. As well as nine suites, there is also an office, a technical room and an employee bathroom.
The area is very close to Taksim, but is still undervalued and has not reached its saturation levels, therefore it has big potential for capital growth in value.
The residential project, which faces this property, markets at 8.000 USD per gross m2. This level gives a large profit margin for potential developers who would like to create a new design and concept in this wonderful building.
This residence offer fantastic investment potential in one of the very best locations in Istanbul city centre, do not miss out on this unique opportunity to own and develop this building in such a historic and vibrant area.