Hotel for sale in Armenoi, Chania

€ 1,800,000*

Mun. unit of Armenoi, Apokoronas, Chania, Crete

• Bedrooms: 14
• Bathrooms: 14

The property is located in the municipal unit Armenoi of the municipality Apokoronas, about 20 minutes' drive east of the city Chania. It consists of 12 apartments of 25 m² to 35 m² each one and a maisonette of about 100 m². The maisonette consists of an open-plan living and kitchen area, on the ground floor and two bedrooms, on the upper floor. On each floor of the maisonette there is a bathroom while upstairs there is a large balcony of about 50 m². There is also a large storage room in the basement of the building.

The property is separated from the sea by a road while there is a long sandy beach with facilities, at a distance of about 100 m. It currently operates as a hotel with a license that was renewed in 2014. The owner uses the maisonette. The 12 smaller apartments can comfortably accommodate at least 30 people as some have two rooms. Each apartment has its own bathroom and all have balconies with nice sea views. Each one also has air conditioning and independent oil heating with radiators. On the roof of the building, there are a water tank of 5 tons and 4 solar panels of 300 liters each one.

The rooftop terrace and the large storage room of the building have remained unused but can easily become a café or restaurant. However, even as it is, the business is profitable enough with stable clientele every year, which guarantees a relatively short payback period. Among other things, the purchase of the property is a unique medium-term investment, as there is a redevelopment plan in the region.