Investment properties
Investment Opportunity in Kundziņsala - Wooden Building with 8 Apartments
Rīga, Kundziņsala, 7. šķērlīnija 10
472 € / m²
Property details
About the property
We offer an investment property located at 7. šķērlīnija 10, Kundziņsala, Riga – a three-story wooden building with a total area of 357.7 m² and a land plot of 675 m². The building houses 8 apartments with 1 to 3 rooms each; two are fully furnished and vacant, one is prepared for renovation, while three overall require renovation or partial work. Current monthly rental income is approximately €1,330, with potential to increase up to around €1,530 by attracting additional tenants. Renovations of the facade, stairwell, and utility networks have been completed, and further improvements are planned, including converting the attic space of about 94 m² into 2 to 4 studio apartments, which could increase the total rentable area to around 448.5 m² and significantly improve return on investment. The building has no lift, balcony, or dedicated parking. The location is quiet and green with convenient public transportation. The owner is open to exchange for an apartment or summer house in Riga or nearby.