Budapest VI. kerület, Lázár utca 7. For sale brick apartment

APARTMENT IN NEED OF RENOVATION IN DOWNTOWN BUDAPEST, NEAR THE BASILICA, IN A HISTORIC LISTED BUILDING UNDERGOING RENOVATION!

In Budapest's 6th district, at 7 Lázár Street, we are offering for sale a 40 m² ground-floor apartment in need of renovation, just a few minutes' walk from St. Stephen's Basilica.

The apartment is located in an Art Nouveau apartment building built in 1912 and designed by Dezső Freund, which is currently undergoing a complete renovation.

The property's location is excellent. It is situated in one of the most sought-after areas of downtown Budapest, where restaurants, cafés, shops and public transport are all within easy reach. Thanks to the characteristics of the neighbourhood, the property is worth considering both as a private home and as an investment.

The building is currently undergoing significant reconstruction and renovation. New apartments are being created in the attic, and as part of this project, both the exterior and interior areas of the listed historic building are being completely renovated.

We consider it important to provide accurate information about the apartment's current condition.

During the attic construction work, the building was without a roof for a period of time, which caused water damage to the apartment. The cause of the water infiltration has since been eliminated, and the apartment has dried out. However, visible traces of the previous moisture remain and require restoration.

The seller does not intend to conceal these defects with a quick, superficial renovation. The apartment is being sold in its current, actual condition, and the cost of the necessary work has already been taken into account when determining the asking price. This allows the new owner to carry out the renovation according to their own ideas and requirements. New windows and doors have been installed in the property, which are already part of the renovation process.

Why might this apartment be of interest?

Primarily because of its location. The proximity to the Basilica, the downtown environment and the architectural value of the building are qualities that cannot be replaced later. In addition, the planned complete renovation of the apartment building is another important consideration. The value of a renovated apartment in a fully restored historic listed building in downtown Budapest may develop more favourably than in its current condition. Naturally, renovating the apartment involves costs, which should be carefully assessed before purchasing.

This property is not intended for those looking for an apartment that is ready to move into immediately, but rather for those who recognise the potential offered by its excellent location and the renovation of the building.

The apartment can be viewed by prior appointment. We will be happy to show its current condition during a personal viewing.

The energy performance certificate is currently being prepared. Once it becomes available, the listing will be updated accordingly.

Reference number: LK078491