Thessaloniki | ANAKTORIOU 6

Student dormitories

The project

Purchase of an entire 3-story building on an intruded columned floor, for residential use.

The building includes 12 apartments (rented, with an occupancy of 70% on the day of purchase) with building rights for 3 additional apartments.

Total built-up area – 600 square meters. Roof with panoramic views and open sea and harbor views.

Business model (+ FLIP)

Buying – Improving – Managing and holding – Selling.

Flip deal on a building with a bonus of current rental yield. The building yields a return from day one for investors.

Target audience – dormitories, the building is located 300 m from the University of Aristolus in the city center.

Project status

Recruited in full. All the money was transferred to the trust account in Israel and from there to the sellers in Greece.

The renovation of the building has been completed, including the closure of the penetrated column floor in favor of the creation of 3 studio apartments that will be added to the 12 existing ones in the building.
Today, the 15 apartments in the building are rented and managed by the management company of the ‘Greek House’, at a high level that includes services such as: central Wi fi, coder for the front door, cameras for the building, a dedicated app for tenants to pay rent, fault reporting, etc.

The location

The 40 Churches neighborhood
The neighborhood is very close to Aristotle University and 1 km from the city center and the White Tower.
Characterized by family residences alongside students and in the tourist seasons also short-term renters.
Leading land designation is residential alongside tiny neighborhood commerce, one-way and quiet streets.
The neighborhood is in demand, there are no empty buildings and apartments, well-kept buildings and balconies.
The neighborhood is located on a hill so there are no problems of flooding and the scenery accordingly.

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