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A rare investment opportunity in Riga – a historic property with outstanding development potential and the possibility to create an entire project!
A unique income-generating property combining historical architecture, strategic location, and exceptional development opportunities. Designed by renowned architect Konstantīns Pēkšēns and built in 1897, the building reflects the characteristic timber-concrete construction of its era.
The total building area is 590 m². The exterior has been fully renovated, windows replaced, and the surrounding area improved. The interior is left unfinished, providing a blank canvas for the new owner to implement their own development concept.
Key Property Data:
Land plot: 1022 m²
Building area: 590 m²
Electricity: Two connections (3-phase, 3x50A)
Fully renovated street and utilities
Investment Potential:
14 apartment units, including 11 one-room apartments (~25 m² each)
Ideal for rental business (long-term or short-term)
Strong value-add opportunity through renovation and optimization
Development Opportunities:
Possibility to construct one or two additional buildings
Option to acquire adjacent land plot on Mūrnieku Street (623 m²)
Potential to develop an entire residential quarter with shared infrastructure
Additional Advantages:
Fully upgraded surrounding infrastructure
Flexible deal structure
Possibility of exchange (real estate or vehicle with additional payment)
Option to purchase in parts
This property is an excellent opportunity for developers and investors seeking a high-potential project in a prime Riga location.
