Building for sale in Lycabettus.
ID AB-1639

Building for sale in Lycabettus. A rare luxury investment opportunity is available on Lycabettus Hill, one of the most prestigious and elevated residential locations in central Athens. This fully renovated autonomous building, originally constructed in 1948, combines architectural heritage, modern infrastructure, and exceptional development potential in a location synonymous with privacy, culture, and long-term value.

The property offers a total built area of 372 sq.m. and is developed across two main levels, complemented by additional auxiliary and outdoor spaces that significantly enhance both functionality and appeal. A key strategic advantage is the right to add up to four additional floors, allowing for up to 428 sq.m. of extra buildable area, a highly valuable feature in such a prime central location. Read more

Building for sale in Lycabettus. A rare luxury investment opportunity is available on Lycabettus Hill, one of the most prestigious and elevated residential locations in central Athens. This fully renovated autonomous building, originally constructed in 1948, combines architectural heritage, modern infrastructure, and exceptional development potential in a location synonymous with privacy, culture, and long-term value.

The property offers a total built area of 372 sq.m. and is developed across two main levels, complemented by additional auxiliary and outdoor spaces that significantly enhance both functionality and appeal. A key strategic advantage is the right to add up to four additional floors, allowing for up to 428 sq.m. of extra buildable area, a highly valuable feature in such a prime central location.

Originally designed by the renowned Athenian design house Dimitris Varangis, the building underwent a complete, high-quality renovation during 2024–2025, preserving elements of its original architectural identity while fully upgrading all technical systems. The result is a premium property comprising two fully independent residential units, ideally suited for short-term hospitality (Airbnb / boutique accommodation) or high-yield long-term rentals.

The property configuration includes 372 sq.m. of main built area, a 64 sq.m. basement level with garden access, and a 141 sq.m. rooftop terrace with garden, offering the potential to create a distinctive roof garden with open city views. The ability to further expand the building reinforces its long-term strategic value.

The building comprises 7 rooms, 7 bathrooms, and 1 additional WC, offering flexibility in layout and guest capacity. Each unit benefits from separate private entrances, ensuring operational independence and maximum privacy — a critical advantage for hospitality or mixed-use investment strategies.

Delivered fully renovated and fully equipped, the property is ready for immediate operation (November 2025), with infrastructure suitable for Airbnb use, boutique hotel operation, or premium long-term leasing. Amenities include autonomous electric heating, air conditioning, three-phase power supply, security doors, verandas, facade exposure, and high-end finishes throughout. The building holds an Energy Class D (141%–182%) certificate and benefits from direct asphalt road access.

This property represents a high-end, investment-grade asset, offering immediate income potential through short- or long-term leasing, strong long-term capital appreciation due to its prime Lycabettus location, and significant redevelopment upside supported by existing expansion rights. Combined with its distinct architectural identity and inherent rarity, the asset stands out as a secure and strategically positioned investment in the heart of Athens.

Quiet yet central, the location places the property within close proximity to universities, hospitals, museums, and key cultural landmarks, while maintaining the exclusivity and prestige associated with the Lycabettus area.

A scarce opportunity to acquire a fully renovated historic building on Lycabettus Hill, combining prestige, flexibility, and long-term investment security — ideal for discerning investors seeking quality, character, and sustainable returns.

Building for sale in Lycabettus. 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.