Apartment with Development Potential for Sale in Lycabettus, Athens.
ID A4-12803

Apartment with development potential for sale at the foothills of Lycabettus Hill, located on a quiet residential street near Alexandras Avenue, in an area that consistently maintains strong demand and long-term value.

The main residence extends across 126 sqm on the first floor and offers the feeling of a house rather than a typical apartment.

The layout is spacious, with natural light and a smooth flow throughout. The living area of 37.26 sqm, centered around a gas fireplace, acts as the focal point of the home, while the 20.12 sqm kitchen with dining space is separate, functional, and well-proportioned. The property includes three bedrooms — or alternatively two bedrooms and a home office — all with generous built-in wardrobes and good natural ventilation. Read more

Apartment with development potential for sale at the foothills of Lycabettus Hill, located on a quiet residential street near Alexandras Avenue, in an area that consistently maintains strong demand and long-term value.

The main residence extends across 126 sqm on the first floor and offers the feeling of a house rather than a typical apartment.

The layout is spacious, with natural light and a smooth flow throughout. The living area of 37.26 sqm, centered around a gas fireplace, acts as the focal point of the home, while the 20.12 sqm kitchen with dining space is separate, functional, and well-proportioned. The property includes three bedrooms — or alternatively two bedrooms and a home office — all with generous built-in wardrobes and good natural ventilation.

The apartment features one bathroom, two comfortable verandas of 9 sqm and 21 sqm, double-glazed aluminum windows, oak flooring in the main living areas, a security entrance door, autonomous natural gas heating, and an independent gas fireplace.

Originally built in 1984 and renovated in 2004, the property has been lightly used since, maintaining its overall condition, although it now requires renovation to meet modern standards.

Within the same building, there is an additional semi-basement space of 41.02 sqm, part of a larger unit, which requires full renovation and legal separation.

Once completed, it can function either as an independent rental unit or as a supporting space to the main residence.

A key advantage of the property is the additional building right of 91.58 sqm on the third floor, offering clear future development potential and adding long-term value in a central Athenian location.

The building does not include an elevator or parking, a factor already reflected in the pricing, creating a more accessible entry point for a property of this size, position, and upside.

This is not just an apartment purchase. It is a combined residential and investment opportunity, offering immediate usability with a defined path for future expansion in one of Athens’ most stable areas.

Apartment with Development Potential for Sale in Lycabettus, Athens. Location Information:

Lycabettus skirts the famed Mt. Lycabettus and overlooks Kolonaki, Athens’ upscale district. It is just a short 10-minute walk to the city centre.

Lycabettus is perched high above the city and is surrounded by the lush hills that lead up to the charming Ag. Giorgos church. You’re surrounded by greenery while being a short walk away from bustling cafes, restaurants, designer boutiques, cinemas and book- stores. It is also very close to several museums, art galleries and theatres. Lycabettus has long been a coveted real-estate destination, offering a green oasis while being close to the city centre.

It is an area extremely well-connected by the metro, tram, and bus services to the rest of Athens. The airport is 50 minutes to an hour away by express train and direct buses.

This area is right in the centre of Athens, an area that has always enjoyed a lot of interest from buyers, offering guaranteed returns on investment.

Kolonaki is the undefeated champion of stylish neighborhoods in Athens.

The central neighborhood of Kolonaki is one of the oldest districts in Athens and a must-visit if you love to shop or want to spend a relaxing day people watching, whilst sipping a Greek coffee.

Kolonaki has seen a new wave of designer shops, cafe’s and restaurants emerge, which are upheld beyond the tourist season by its affluent residents.

From art galleries, luxury brands, hip boutiques and shoe emporiums, what I love about Kolonaki’s recent renaissance is the variety of international labels with equally impressive independent Greek designers appearing more and more around the district, bringing a bit more edge and color to the area.