Overview of the Investment Opportunity in Therisos Episkopi

For those exploring investment properties, this residential building in Therisos Episkopi might be what you’re looking for. Covering a total area of 125 square meters on a substantial 4345 square meter plot, the property is licensed by EOT and the Green National Tourism Organisation, opening various income avenues.

Property Features

This property includes two rental apartments spanning 125 square meters, a 50 square meter swimming pool, an 85 square meter metal warehouse, and a nursery business. Additionally, it features an organic farming setup with 210 avocado and orange trees. There remains a construction capacity of 82.93 square meters plus a 40 square meter attic.

Location Details

Positioned on a regional asphalt road, the property is just 500 meters from the main Chania Omalos – Patelari – Platanias route. With 135 meters of frontage along this road, accessibility is a key feature. The area benefits from a blend of local tourism and residential reliance, contributing to potential client interest for rental units.

Apartment Specifications

The building is divided into two apartments, each with distinct entrances. The ground floor apartment measures 70 square meters and can accommodate up to five guests. It consists of two bedrooms with a king-size bed in the first bedroom and three single beds in the second bedroom, along with a sofa-bed for extra guests. It offers a living room and access to a spacious yard.

The first floor apartment, at 55 square meters, accommodates up to four guests. It shares a similar layout with a king-size bed in one bedroom, two single beds in the second, and a sofa-bed for guests. This unit features four large balconies, enhancing outdoor space for occupants.

Parking and Outdoor Space

The property has a yard space of 2250 square meters, providing ample outdoor area along with three designated parking spots. The 50 square meter swimming pool adds to the overall utility of the residence, suitable for both short and long-term rental options.

Rental Potential

This accommodation qualifies as a certified tourist residence with a 3 keys rating, allowing for both long-term urban leases and short-term tourist rentals. A combination of nine-month urban leases with tourist leases during peak summer months can yield an annual income of 30,000 to 40,000 euros. The property boasts solid partnerships with popular platforms like Booking.com, Airbnb, and VRBO, backed by a good brand reputation and five-star reviews on Google.

Additional Business Ventures

Included in the offering is a licensed nursery business featuring 2000 avocado plants, with a market value of approximately 25,000 euros. Positioned on a part of the larger property, this venture can generate an annual income of 5,000 to 7,000 euros.

The organic farming aspect features 100 orange trees and 110 avocado trees, totaling 210 trees, which can provide additional earnings of 6,000 to 10,000 euros per year. The property is equipped with a comprehensive irrigation system to ensure optimal plant health and yield.

Energy Independence

This property also boasts energy independence for most of the year, thanks to an autonomous solar panel system. The installed capacity of 6.3 kW averages a production of around 30 kWh per day during the summer months, significantly reducing the need for external electricity sources.