Residential Building for Sale in Paralimni

Located in Paralimni towards Kapparis this residential property presents a compelling investment opportunity with significant potential for redevelopment and value enhancement.

Set on a 625m² plot, the building offers a total internal area of ​​450m², complemented by 42m² of covered verandas. The property comprises fourteen apartments, thoughtfully distributed to include a balanced mix of studio, one-bedroom and two-bedroom units—ideal for long-term rentals, holiday lets, or resale after renovation.

The internal layout is arranged across three levels. The ground floor hosts five studio apartments, offering compact and functional living spaces. The mezzanine level includes one studio apartment alongside two one-bedroom units, providing a mix of layouts to suit different tenant needs. On the first floor, the property features two spacious two-bedroom apartments, two one-bedroom apartments and two additional studio units, maximizing both space and rental versatility.

Each apartment is designed with an open-plan kitchen, living and dining area, creating a practical and modern living environment. Most units also benefit from covered verandas, adding valuable outdoor space for residents.

While the property requires full renovation, it offers a rare opportunity to transform a multi-unit building in a well-established and convenient location, close to local amenities, shops and services. With the right vision, this asset can be repositioned into a high-yield residential development in one of Ammochostos’ most sought-after areas.

Viewings highly recommended.

*Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items.

PARALIMNI

Paralimni is a charming town located in the southeastern part of Cyprus, within the Famagusta District. It serves as the administrative centre for the region and offers a delightful mix of traditional Cypriot culture, modern amenities and scenic surroundings. While less touristy than neighbouring Ayia Napa and Protaras, Paralimni is an ideal destination for those seeking a more tranquil and authentic experience. The central landmark consists of three churches, including the modern church dedicated to Saint George and two older ones nearby. The architecture showcases a blend of Byzantine and modern influences. Paralimni has a more serene and residential vibe, making it a perfect retreat for those seeking peace and quiet.