For Sale: A Perfect Pied-à-Terre Investment on the Promenade des Anglais and the Mediterranean Sea!
Volume XIX, Issue 4
The best properties come to us from someone on the ground who is in the know…and that’s how we discovered this jewel of an apartment, located directly on the world famous Promenade des Anglais in Nice, with immediate access to the beach and a gorgeous view of the Mediterranean!
What I love so much about this 33 square meter apartment (355 square feet), with its big double-paned glass sliding doors and sweet hedge-trimmed patio/garden in front, is a long list of assets that equate to a perfect pied-à-terre that will stay rented as a short-term rental*, earning you enough revenues to afford many other things…even a rental apartment in Paris if that’s what you want!
*Note: Short-term vacation rentals are legal in Nice on secondary properties for up to six years.
This is an exceptional opportunity for a smart investor. This large studio apartment is situated in a newly resurfaced contemporary building—meaning you won’t have this expense for at least 10 years! It’s literally just steps from the sea with the crosswalk directly in front. But, it’s also in very close proximity to the new East-West Tramway that glides quietly from the Old Port to the Airport in minutes, as well as numerous bus lines along the Promenade, on the west side of Nice in the Quartier des Baumettes…making it simple and easy to get into town …or out of town if you have a car or to the airport!
With complete renovation (and we have a great team to do it!), it is possible to create two rooms to allow for a private bedroom, a fully-equipped modern kitchen and a luxurious bathroom. Air-conditioning can be easily added as can a washer/dryer so it will have every luxury imaginable. It is also possible to provide wheel-chair accessibility and it could welcome pets because of the patio/garden just outside the door. There are security shutters that can come down in your absence for complete protection.
When I saw this property and immediately realized the potential, I got very excited! Properties like this don’t come along very often, especially at this price!
The asking price is just €237,600 including all agency fees. Add Notarial taxes and fees estimated at approximately €17,500 – €18,000. Then, allow approximately 40,000€ to 60,000€ for renovation/decoration.
Short-term rental revenues are estimated at between 14,000€ and €18,000 per year, considering a 50% to 65% occupancy rate (being conservative, or allowing you to stay yourself!). (We can detail these projections working with an experienced booking agent/concierge.)
Building fees are about 1,000€ per year (includes heating); Taxe Foncière is 826€ per year and Taxe d’Habitation + Taxe Audio Visuel is estimated at 1,500€ a year; electricity is just 500€ a year. With such low annual carrying costs of about €5,200 a year, you can easily walk away with €9,000 to €13,000 euros in profit!
Don’t miss this opportunity to own your own pied-à-terre directly on the Mediterranean Sea on the beautiful Côte d’Azur for a total investment of a little more than €300,000 that will generate beaucoup bucks every year. But, more importantly, give you never-ending pleasure!
Special note: This property will not stay on the market long. I strongly recommend you make a full price cash offer as quickly as you can. Know that it has our 100% seal of approval as a property you will never regret owning!
The Adrian Leeds Group
Adrian dining seaside in Nice
P.S. As you may already know, we won’t sell a property we won’t recommend our clients buy. When I tell you that this one is a jewel, I seriously mean it. Just imagine, looking out at the sea every day, letting the sun shine in and boost your spirits day after day after day…reaping the rewards of your hard-earned money in an investment that will pay off in more ways than one! The faster you send in your offer, the better. We will take them on a first come, first serve basis.