House at Caldera Santorini with Yard and sea Views – up to 20% ROI EXCLUSIVE

House at Caldera Santorini with Yard and sea Views – up to 20% ROI

The property is located in Imerovigli, offers unique views of the town of Oia and of Thirasia island. You will also enjoy uninterrupted views of the world-famous Santorini sunsets .

House

The Cave House is a traditional Santorini house. The Cave is literally carved into the rock, with a vaulted roof. It is divided in two parts by a wall. In the front part you are welcomed into living room and kitchenette and to the right is the first bedroom while in the back you will find the second bedroom. Light and ventilation are provided by the facade of the house, the main entrance being in the center with a window right and a traditional iron skylight above. It is 51 square meters including two bedrooms, one living room with kitchenette and WC with shower. It has a traditional yard of 81 square meters with a fragrant flower bed, a unique (in Santorini) fig tree (beautiful) and a traditional wood stove.

NOTES

The property is located between luxury boutique hotels

The property has remaining building allowance. Can built additional 2 suites of 20-25 sqm or one large suite of 40  sqm or expand the current villa into a 3-4 bedrooms villa of 90sq.m

Currently this house is offered for rent at 500 euro per night.

With a Conservative study, and based on the adjacent boutique hotels, if this house become a villa of 90 sq.m with 4-5 bedrooms and Jacuzzi at the top of the building it can be offered for rent with 1000 euro per nigh (generating a yearly income of 120.000 euro around 20% ROI)

The engineer estimates that for a quality construction the construction cost will not exceed 1000 euro per sq.m. therefore an additional investment of 40-50.000 euro it may be required.