Renovated 2+1-bedroom apartment with two suites and two parking spaces in Paranhos

Renovated 2+1-bedroom apartment with two suites and two parking spaces in Paranhos

Located on Rua Vale Formoso, in Paranhos, this 2+1-bedroom apartment was extensively renovated in 2024, combining a functional layout, contemporary comfort and close proximity to Porto’s main university and hospital areas.

With a total gross area of 152 sqm, comprising 99.50 sqm of private gross area and 52.50 sqm of dependent gross area, the property offers balanced and versatile spaces, suitable both as a primary residence and as an investment.

The private area includes two suites and an additional room that may be used as a third bedroom, office, dressing room or multifunctional space.

The apartment features three bathrooms and a spacious contemporary social area, benefiting from good natural light and a layout designed for comfortable family living.

Renovation completed in 2024

The works included the renewal of the main infrastructures and finishes, namely:

renewed water, drainage and electrical systems;
high-resistance PVC SPC flooring, AC6 category;
tilt-and-turn window frames with thermal double glazing;
electric shutters;
reinforced thermal insulation with rock wool;
pre-installation for air conditioning;
two Daikin indoor units installed in the suites;
technical preparation in the living area for the possible installation of a wood- or pellet-burning fireplace, subject to technical and regulatory feasibility.

The property also includes two parking spaces, one covered and one uncovered, located within a private courtyard.

It is sold in its current condition and may benefit from minor final personalisation works, including some touch-up painting and the installation of selected bathroom furniture in the suites.

Possibility of a combined purchase

There is also the option to purchase, together with the apartment, an independent commercial unit located nearby on Rua Professor Joaquim Bastos.

The shop has a street-facing frontage and is currently rented for €900 per month, corresponding to a gross annual income of €10,800.

Combined price for the apartment and the shop: €660,000

Considering the shop separately at the implied value of €170,000, the current rent represents an indicative gross yield of approximately 6.35% per year, before taxes, condominium fees, maintenance and other expenses.

According to the information provided by the owner, the current lease remains in force until 31 May 2027.

This option may be particularly attractive to buyers seeking to combine a private residence with an income-generating commercial unit in the same area.

Location

Situated in a well-established residential area of Paranhos, the apartment benefits from proximity to:

Fernando Pessoa University;
Porto University Campus;
São João Hospital;
Arca d’Água Garden;
supermarkets and local shops;
schools, services and healthcare facilities;
public transport;
quick access to the VCI and Circunvalação;
convenient connections to Porto city centre, Marquês, Boavista and Campanhã.

The location combines residential tranquillity, centrality and proximity to the city’s main educational, healthcare and transport facilities.

Documentation
Use Licence no. 154, issued in 1990;
Energy rating: E;
Renovation completed in 2024;
Property sold in its current condition.

Contact Atlantic Prime Living Real Estate for further information or to arrange a private viewing.

The information presented is based on documentation and details provided by the owner and remains subject to confirmation. Some images may include virtual staging, intended solely to illustrate the potential of the spaces.