Alfama Building 8 Apartments T1 and T2

In the heart of São Vicente, a few steps from the iconic Feira da Ladra, lies a rare opportunity to acquire a building in one of Lisbon's most genuine, historic and emerging neighborhoods. With 342 m² of Gross Private Area, distributed across ground floor plus three floors, this building houses eight independent T1 and T2 apartments, each with areas between 42 and 47 m². With a discreet yet imposing presence, this property combines character, immediate rental income and a value appreciation potential that only assets of this kind can offer. Its traditional timber-framed construction preserves Lisbon's architectural identity while offering flexibility for future interventions. The general condition of the units is reasonable, having already undergone various improvements, including kitchens and bathrooms, allowing this ensemble to conveniently maintain current operations with stability, while opening doors to refurbishment projects that could substantially elevate the property value. It also includes two outdoor spaces in the ground floor units, both with independent entrance. A rare privilege in the area and a differentiating element for future optimization strategies. The building is partially leased with 6 contracts terminating between October 2026 and January 2027, which allows you, if that is your choice, to secure a solid income base from day one. With great possibilities to increase income, as the rents are of modest amounts and should be updated in new contracts. In any case, if your profitability project is through refurbishment, everything can be accomplished. In a scenario of refurbishment and sale of 6 units, the base ROI would be 30% and would still leave the capital gain from future sale of 2 units. At this moment, we have the following scenario: 6 apartments with traditional contracts terminating in 2026 and early 2027 (One of the contracts has already been terminated, with the apartment vacant) 1 apartment with a lifetime contract (3rd Floor Left), but with possibility of negotiation The Santa Clara neighborhood is one of Lisbon's most fascinating and still undervalued neighborhoods, until now. Located between Alfama, Graça and São Vicente, Santa Clara is undergoing an elegant transformation, driven by: Proximity to Feira da Ladra, National Pantheon and Campo de Santa Clara. Quiet streets, authentic atmosphere and vibrant cultural identity. Growing residential and tourist demand. Quick access to the historic center and urban mobility It is a location where the charm of the past intersects with the dynamism of the present, and where the most attentive investors are already focused. Beyond immediate income, this building offers strategic possibilities for medium and long term: Phased refurbishment according to contract expiration dates, raising value and profitability Improvement of energy performance and comfort, strengthening attractiveness. Potential future reorganization of typologies, respecting the urban matrix. Capitalization on the growing appreciation of the Santa Clara area. This is an asset that allows both a conservative approach of stable income and a dynamic strategy of continuous growth and value appreciation. This is more than a building. It is a strategic asset in a neighborhood with strong identity, in a city of continuous expansion, with guaranteed income, eight independent units and a value appreciation potential deeply aligned with Lisbon's market trends. A unique opportunity for investors. An asset with history and future.