Rent out this beauty – and make a profit!
€600,000
  • For Sale €600,000
  • Ref. No. CL1081
  • Title Deeds available
  • Peyia
  • Detached Villa
  • Resale
  • Year Built: 1890
  • 4 Bedrooms
  • 3 Bathrooms

For Sale : Detached Villa - Paphos, Peyia

The property is laid out in such a fashion that it is ideal for renting out in units. Rent it out fully, or just a couple of units and live there yourself. Either way, it is a marvellous investment.

This 4 bedroom /3 bathroom house is located in the center of Peyia village. It was originally built as a school around 1890 and has been beautifully restored, extended, cared for and maintained in the traditional way by the present owners. It is a walking distance from everything you need (restaurants, bars, supermarket, pharmacy, bakery).

It is no exaggeration to say that the property is unique and quite fantastic. It would be impossible to build anything new that appears so utterly charming. To describe the property is complicated as it has so many features. One really needs to view it to appreciate everything.

As you enter from the road through the blue wooden double gates, it leads you into the old courtyard with an abundance of colours, bougainvilleas, grapevines, olive trees, the white washed stone walls. The Mykonos blue doors and shutters give a stunning contrast. From the courtyard you enter the main living area, dining room, the spacious open kitchen with a splendid sea view, as most of the rooms in the house have; an open fire and cast iron wood burner + fan, a library office space with big patiné wooden bookshelves, fans and an electric wall heater along with the beautiful stone floor from Letimbou Village which runs throughout the downstairs area.

A staircase in the kitchen goes below to a big cellar convenient for extra fridges, storing, wine shelves and a door to the main road that makes unloading shopping very easy.

The big master bedroom with fitted wardrobes, air con, ceiling fan and electric heater exits onto the upper courtyard. From here it leads to the small but comfortable stable which is used now as a bedroom but could also be very nice as a playroom/workshop.

You then pass a running water feature next to a stone staircase leading up to a self contained apartment (bathroom, kitchen, double glazed windows, air con, and wood burner) with again a magnificent sea view from the large balcony with awning. This is “Le Balcon” the first of our renting gîte. The pretty décor is again traditional Cypriot style.

As you return down to the upper courtyard - a small but very charming roof tile dining area with an oven and bbq.

Another staircase leads you to the swimming pool area, crazy pavement; well establish big garden, olive trees, lemon, apricot, climbers, shrubs and flowers. This is where you will find a small discrete studio apartment “le Gite d’été”, the second renting gîte tastefully decorated, very quite and secluded (again kitchen, bathroom colorful mosaics, electric heater, air con).

There are several options available to an interested buyer. – As the bedrooms are in part self contained with kitchenettes, one can rent them out individually and still live in the house undisturbed. Or rent out everything and maximise the rental opportunities.

The current owner nets (after expenses and before tax) roughly 10.000 Euros per year, renting out two of the four units.

The property is in very good condition and well maintained – inside and out. It is sold partly furnished. Some antiques and furniture elements are negotiable. Title deeds are available.

This property is a gem – hurry here to take a look. You will fall in love – as we did!

 

Indoor
Air conditioning
Basement
Ceiling fans
Ceiling fans
En suite bathrooms
Family bathroom
Fireplace
Fly screens
Fully equipped kitchen
Guest W/C
Partly furnished
Separate kitchen
Storage room
Water pressure system
Wi-Fi
Outdoor
Balcony/Veranda
Barbecue area
Fly screens
Irrigation system
Mature garden
Pergola
Private garden
Private swimming pool
Shutters
Solar panels
Stone decorated
Storage room
Views / Distances
Airport: 30 min drive
Beach: 15 min drive
Golf: 30 min drive
Sea views
Town: Walking distance
Walking distance to Village
Legal and Financial
Title Deeds available
VAT not applicable
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Peyia


The popular hillside village of Peyia is situated on the steep slopes of the coastal hills inland from Coral Bay, at the southern end of the Akamas Peninsula. Peyia lies approximately 12 km north of Paphos town, with a large population of expats and a steadily growing number of attractive villas and apartment buildings. The town centre is quite lively and has a broad selection of family friendly activities, shops and restaurants - including the old village jailhouse - now converted to a considerably more cosy pub! It also features a fish market and a branch of the excellent local supermarket Phillipos just opposite the town church. Due to its hillside location many parts of the village offer stunning views over Coral Bay and Paphos. Peyi...