Hotel in Florence

Florence Palazzo Pitti 480 sqm.

In Florence Palazzo Pitti: Is less than 3 minutes walk from ponteVecchio and 10 minutes from Piazza di San Giovanni – Cattedrale di Santa Maria del Fiore.
Excellent investment with very high returns in the heart of Florence.

This prestigious apartment complex in Florence Palazzo Pitti was recently renovated and elegantly furnished.
Located in the immediate vicinity of Palazzo Pitti, in the heart of the historic center of Florence.

Within walking distance of the most interesting tourist and cultural destinations in Florence, such as the Ponte Vecchio, the Uffizzi Gallery and the train and bus station. It is a 4-story building plus a basement. All floors can be reached by a (original) stone staircase and a lift.

In total on the first and second floor there are 7 independent rental apartments:
2 x two-room apartments.
5 x Suites with private bathroom

Further layout of the building: A Cellar. On the ground floor: retail space, spacious car garage and a private storage room.

Elevator from the ground floor to the 3rt floor.

The location and layout make the accommodation very attractive for tourists and holiday groups in beautiful Florence.

Total 480 sqm
Bedrooms 7
Bathrooms 7
Kitchens 2
Centralized TV system
Basement ventilation
State of repair: good and restored in the year 2000.
Electricity and heating are separated per housing unit.
The complete air conditioning system.

The owner does not appreciate to show photos from the outside due to the privacy. Are you interested in this unique opportunity? Then you can request a written request (or by email) to view the building. Do request in advance, because the owner needs to negotiate with all tenants.

All rooms (7 accommodation units, the car garage, the shop and the basement) are rented for a period of 3 months each. This in connection with selling the property. So, with purchase, the transfer contract can only be signed after a maximum of three months.

The building has all the necessary registration and registration documents to rent out the whole complex for long term or to use as Bed and Breakfast or as a mini hotel.

The rental income at this time is per month:
For the 2 two-room apartments x € 850.00 per month each
For 5 suites € 650.00 per month each
The other 2 spaces garage (basement and store together) for € 650.00 per month each.
Total income at this moment: € 6,250.00 per month. € 75,000.00 per year. This amount can easily be raised to over € 200,000.00 by renting out to tourists per week or per night.
The owner himself does not live in Florence and has little to no time to organize the rental per week. For someone who would be present and rent the whole complex for tourists and travelers, the income can increase tremendously. On average, in the historic center of Florence you would pay an average of € 125.00 for a room per night over the whole year (in the winter it’s an average of € 90.00 per night and in high season € 175.00)
For 2 two-room apartment one pays more than € 1,000.00 per week. And for a suite with private bathroom € 700.00 per week.

An example:
1- Starting from 30 weeks per year (very easy to achieve)
30 weeks X 7 residential units = 210 rented weeks
210 rented weeks X € 850 (average) = € 178,000.00 per year.
2- Garage rental € 750 per month x 12 = € 9,000.00 per year.
3- The store and cellar space can be used as a breakfast bar or café / bar and can be managed or rented out. The rental can easily go to
€ 950.00 per month X 12 = € 11.400.00 per year.
Total has been rounded € 198,000.00
This amount is easy to achieve because Florence is always in demand among international tourists, students, groups, etc.