Budapest VI. kerület, Lázár utca For sale brick apartment

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

We offer for sale a 40 m² ground-floor apartment in need of renovation at 7 Lázár Street in Budapest’s District VI, just a few minutes’ walk from St. Stephen’s Basilica.

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

The property has an excellent location. It is situated in one of the most sought-after parts of the city centre, with restaurants, cafés, shops and public transport all within easy reach. Given the characteristics of the area, it is worth considering both as a private home and as an investment.

The building is currently undergoing significant alterations 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 residential building are being fully renovated.

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

During the attic construction works, the building was temporarily left without a roof, which previously resulted in water damage to the apartment. The cause of the water ingress has since been resolved and the apartment has dried out; however, traces of the previous dampness remain visible and require remedial work.

The seller does not wish 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, already forming part of the renewal process.

Why might this apartment be of interest?

Primarily because of its location. The proximity to the Basilica, the city-centre setting and the building’s architectural merits are features that cannot be replicated later. The planned complete renovation of the residential building is also an important consideration. The value of a renovated apartment in a listed city-centre building renewed inside and out may be expected to develop more favourably than in its current condition. Naturally, renovating the apartment involves costs, which should be carefully assessed before purchasing.

This property is intended for those who recognise the potential of a good location and a building undergoing renewal, rather than those looking for an apartment ready for immediate occupation.

The apartment can be viewed by prior appointment. We will also be happy to show its current condition in person.

The energy performance certificate is being prepared, and the listing will be updated as soon as it becomes available.


Reference number: LK078491