779 000 EUR
Sparģeļu 5B, Grīziņkalns, Rīga 
The property is located in Grīziņkalns, a rapidly developing neighborhood close to the center of Riga. The area offers a strong residential environment with nearby parks, including Grīziņkalns Park and Ziedoņdārzs, as well as access to educational and sports facilities.
The building is best suited for continued use as a rental property. Currently, 100% of the 24 apartments are leased on a long-term basis, along with 4 of the 6 parking spaces, ensuring stable cash flow. Apartment sizes range from 14 to 33 sqm, catering to strong demand in the compact rental segment.
There is clear value-add potential through modernization of the apartments, with estimated income growth of up to 30%. In addition, the property includes approximately 300 sqm of basement space suitable for commercial or storage use, offering further upside.
The offered asset at 5B Sparģeļu Street comprises a 30% undivided ownership share in the overall real estate (Cadastral No. 01000340090), governed by an established Terms of Use Agreement.
The property provides an attractive entry yield of approximately 8%, based on a current NOI of €61,800. With the identified improvements, the NOI could increase to approximately €90,000, resulting in a potential yield exceeding 10%.
