House T3 in Lisboa with 170 m²

AL License and PIP in Belém: A Rare Opportunity in the Heart of Lisbon

Historic 1929 building (170 sq m) under single ownership and divided into 3 independent units, located in the iconic heart of Belém. A rare opportunity combining immediate yield, significant tax incentives via its Urban Rehabilitation Area (ARU) status, and strong short- and long-term appreciation potential.

Property Highlights

• Current Layout: 3 independent units (one per floor). Operating section with an active Local Accommodation (AL) license, plus one unit ready for total renovation.
• Future Potential (PIP submitted): Project underway to modernize into 3 optimized units (2 x 1-bedroom apartments + 1 x studio).
• Strategic Location & Tax Incentives: Located within an Urban Rehabilitation Area (ARU) (access to tax breaks on works and property taxes). Steps from the Jerónimos Monastery, CCB, and the waterfront, on a central street featuring free parking and direct transit links to downtown Lisbon.

3 Investment Strategies

• Short-Term Rental / Long-Term Lease: Capitalize immediately on the active units using the existing AL license while upgrading the third unit with ARU renovation benefits.
• Optimized Redevelopment: Execute the PIP project (2 x 1-bed + 1 x studio) to maximize independent units, boosting rental yields or preparing units for individual resale.
• Primary Residence with Income or Private Townhouse: Live in one apartment while renting out the remaining units, or convert the entire building into an exclusive single-family townhouse in a prime historic district.