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Chef Krista went to France to become a sommelier and then decided to sell her California home and move to Paris permanently. With the market booming and home prices in Paris on the rise, Krista calls on her best friend, Stanley, to help her invest her life savings. She wants the cafe culture of central Paris with a big enough space to entertain. For better or worse, Stanley won't let her settle, even if her small budget requires some concessions.
We don't list many properties for sale -- that's because our agency refuses to represent a property that isn't worth buying! As consultants, we want to be absolutely sure that we can stand behind every property our clients buy. Almost all the owners of the properties we represent are also Expats like you -- mostly North Americans (or Australians, etc., and other Anglophones) who have the same vision as you about property ownership and use.
This is very different from a traditional real estate agency that will list anything, sell anything and say anything to make the sale...as long as it means money in their pockets. For that reason, when we offer up a property for sale, you can trust that it's going to be a good investment and a great home.
We have three at the moment in Nice that you need to know about. One of them is located in the heart of Old Town and the other two in the Carré d'Or near the Hôtel Negresco...so all three in amazing locations!
LE PALAIS A DROITE A NICE -- TWO APARTMENTS, COMBINED OR SEPARATE FOR ONE BUYER OR FOR TWO (OR MORE)!
I fell in love with this apartment the first time I saw it years ago when a friend was renting one of the two apartments for his vacation in Nice. It's in the heart of Vieux Nice on rue Droite, across the street from the famous and well-visited historic Palais Lascaris! The palace is a 17th-century aristocratic building and is currently a musical instrument museum with a collection of over 500 instruments -- which makes it France’s second most important collection. Visitors flock to it daily, and to have a perfect view on its magnificent facade is a small piece of Côte d'Azur historic heaven.
There are two apartments, opposite the Palais on the first floor (just one flight up), each with its own entry and divided on the interior by a doorway that is currently sealed off and configured like a bookshelf. This means that it could remain as is, or could be opened to make one larger apartment.
One side is a spacious one bedroom apartment with a large living room/dining room/kitchen and spacious bedroom plus bath with a shower. The ceilings are so high that it makes the apartment feel much larger than its 39.6 square meters (426 square feet).
The second side is a well-configured two-room apartment (one bedroom, living room/dining/kitchen) in 25 square meters (270 square feet) with the same high ceilings and same fabulous view of the Palais Lascaris.
They are both move-in ready and rental-ready! All furnishings are included in the purchase, too...the kitchens are fully equipped so, there's nothing for you to do but unpack your bags...unless of course, you wish to renovate and upgrade or combine them!
This is a location that is incredible for successful short-term rentals, yet is being offered at the particularly low price of 317,000€ (all agency fees included, less than 4,900€ per square meter!). The only additional costs are the Notarial taxes and fees, about 7%. Plus whatever renovation/decoration you wish to do. Annual homeowner association fees are approximately 1,000€ and annual property taxes are about 500€...making the cost of ownership very low.
One owner could leave the two apartments as is for the rest of his life. Either side can be used or rented as wished, but one owner could open the interior door and combine the units to have a spacious two-bedroom, two-bath apartment in the heart of Old Nice...
Or two individual buyers, such as friends or relatives, or even just acquaintances, could come together and purchase the units together in the form of an SCI (Société Civile Immobilier), a French property company, with each party owning shares in proportion to the side of the apartment they wish to use (approximately 38.5% for one and 61.5% for the other). They would share in the expenses of operating the property based on their percentage of ownership. An arrangement of this sort is considered a "fractional ownership" and is regularly done. It has no issues as long as the two parties who own the property together have "by-laws" to which they adhere so that they understand their responsibilities and have an exit plan, should either wish to sell. Allow an additional budget to create the SCI and the by-laws agreement (about 4,000€).
An investor or new home-owner can't go wrong in any of these scenarios...especially at this price! I can explain this in greater detail to those interested. If you are game to purchase this property, and are serious, contact me at [email protected].
100M2 ON RUE CRONSTADT NEAR THE NEGRESCO
I know this apartment because an illustrious member of the American community has stayed here many months a year every year for several years. Now the owner, also an American, wishes to sell it.
Located in the heart of the Carré d'Or on rue Cronstadt, Nice's best district, it's large and spacious -- 100 square meters in a beautiful bourgeois building (built circa 1900) on the 2nd floor (with elevator) with a large living room/dining room (40m2), two large bedrooms (air conditioned, one on courtyard, one on street), a fully equipped independent kitchen and a large newly renovated bathroom with shower, plus an additional separate toilet. It has a balconette on the street and one on the courtyard off one of the bedrooms.
The asking price is 555,000€ including the kitchen appliances. The only additional costs are the Notarial taxes and fees, about 7%. Plus whatever renovation/decoration you wish to do. Annual homeowner association fees are approximately 1,800€ and annual property taxes are about 1,500€...making the cost of ownership very low.
The listing of the third property is shared with my collaborating agent on the ground in Nice, owned by a Canadian couple with whom we have worked for years. The location of it is superb, literally behind the Hôtel Negresco and the Villa Masséna, steps from the beach and the Promenade des Anglais. It's a three-room apartment of 54 m2 that will make a perfect short-term/vacation rental. In a fully rehabilitated bourgeois building from 1900, this elegant fully renovated and luxurious apartment, has a fully-equipped kitchen, a bathroom with a shower and a window. There is a small "balconette" from which the views are beautiful.
Asking price: 525,000€, all inclusive, but without the furnishings. If you are seriously interested in learning more, contact me at [email protected].
And don't forget, Nice is awfully nice at half the price of Paris! Here's your chance to own a piece of the Nice France pie.
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