Apartment for sale in Cannes of 224 m²

A few steps from the Palais des Festivals Apartment building completely renovated and furnished 225m² and 46m² of terraces and balconies. Crossing N/S 3 T2 and 3T3 from 30 to 50m2 + 3 cellars SALE PRICE: €1,680,000 Profitability 5.5% net of management fees. Cannes: An exceptional city & a privileged living environment A popular geographical location A seaside and climatic resort of excellence located on the Côte d'Azur, Cannes took off with the construction of holiday residences by English artistocrats. Since the beginning of the 20th century, the construction of luxury hotels have enriched its architectural heritage. Endowed with cutting-edge industry, a small business airport, several ports and a convention center, Cannes is now world famous for its film festivals and for its Croisette lined with a few palaces. Due to its Mediterranean climate Cannes enjoys hot, dry summers and mild winters Cannes has more than 75,000 inhabitants and is located 33 km from Nice, 56 km from Monaco and 74 km from Saint Tropez. The Morraja House Building An ideal location to meet the rental market of students, congress participants and seasonal workers. In the immediate vicinity of the Forville market and the Lycée Stanislas, 1OOm from the "Banana" and 400m from the old port, Maison Morraja stands in one of the most sought-after areas of the city. The building: Its configuration and location give the opportunity for rental optimization with a "double lease" Given the particularly favorable Cannes market and the immediate proximity of the sites concerned, the apartments offered for sale will be rented through a furnished lease to students during the student period from September to June and to holidaymakers during two months of the summer period. This optimized management method makes it possible to ensure a minimum yield secured by the period rented discontinuously over 9 months and optimized by the 3 months of tourist rentals. A high quality renovation Maison Morraja has regained its former glory: common area with its restored fresco, its preserved floor tiles, its facade redone in the original colours, its door frames replaced. It houses 6 apartments with air conditioning in all rooms, completely renovated with noble materials (cement tiles, Italian showers, high ceilings, etc.) to give it a real heritage value. 3 cellars complete this property.