A charming and fully renovated property in Barão de São Miguel, located on a quiet street in a peaceful Algarve village, just 4 km from the ocean and 6 km from Burgau Beach.

The property offers approximately 125 m² of living area, plus 18 m² of mezzanine space, creating a spacious and versatile interior. It also benefits from a private patio.
Potential for expansion: the applicable building regulations in this area allow for the construction of an additional floor over the entire existing house, subject to the relevant planning approvals and licensing.

Established Rental Income - The property has been continuously rented for the past three years at €1,500 per month, demonstrating a stable and established rental history.
The current tenants are happy to remain, offering a new owner the possibility of continuing with an existing tenancy and rental income from the outset.
The current rent generates €18,000 per year, equivalent to approximately 4.5% gross annual yield at the asking price of €398,500.

Given the property's location, condition and proximity to the coast, there may also be potential for future rental income growth, subject to market conditions and the applicable tenancy arrangements.

The potential to add an additional full floor to the existing house also offers an interesting opportunity to increase the property's living area and potentially enhance its future value, subject to the applicable planning and licensing requirements.

This is an attractive opportunity to acquire a renovated property in a tranquil Algarve village, combining established rental income, long-term tenant stability, potential for expansion, and proximity to some of the Algarve's most sought-after beaches.

Property features:
125 m² of living area
18 m² of mezzanine space
2 bathrooms
Fully renovated
Private patio
Quiet residential street
4 km from the ocean
6 km from Burgau Beach.