We offer for sale a residential property with stable rental income – a minimum of 5%, and up to 6% annually with full occupancy.
The property consists of 14 apartments, including 2 spacious penthouses on the 5th floor featuring panoramic windows and views of the Daugava River, as well as 3 commercial spaces.
The average occupancy rate is 90%, mainly under long-term rental agreements. However, there is potential to switch to short-term rentals to increase profitability.
Property Overview:
The residential building on Uzvaras Street was put into operation in September 2020 after a thorough renovation of a pre-war 4-storey building, which included the addition of a new fifth floor.
The renovated 5-storey building with a semi-basement level now features:
A new additional floor
Schindler elevator
EU-standard insulated façades
Completely new utility systems
Modern ventilation and fire safety systems
Intercom and security alarm systems
A new staircase and entrance group have been built, along with a second entrance. The building has been fully renovated and now appears as entirely new construction.
Commercial Premises:
The semi-basement level has also been restored and is fully ready to accommodate businesses such as shops, beauty salons, and more. An extension at the rear of the building can serve as a medical or cosmetic office, a small store, etc. All commercial spaces are fully equipped with the necessary utility connections.
Residential Units:
All apartments are fully renovated and equipped with:
Bathrooms (with washing machines)
Kitchens furnished with appliances (refrigerators, stovetops, exhaust hoods, etc.)
Furnished living spaces, complete with lighting and ready for immediate occupancy – no additional preparation required.
Additional Features:
5 dedicated parking spaces on the premises.
Prime location at the foot of Stone Bridge, which leads directly into the heart of Old Riga, near landmarks such as the House of the Blackheads, the Parliament building, and more.
Just 300 meters across the bridge (or one public transport stop – with the stop right next to the building), and you are in the city center. Public transport also connects the building to the central train station within 10 minutes and Riga Airport in under 20 minutes – with no transfers.
Within walking distance is Victory Park, one of Riga’s largest parks, featuring great infrastructure and a new Ferris wheel. A grocery store and pharmacy are located adjacent to the property.
