The apartment is in advanced stages of an approved urban renewal (Pinui-Binui) process, following the signing of the required majority by the property owners. As part of the project, the apartment owner will be entitled to an additional 49 square meters, a storage unit, a parking space, a balcony and some other treats.
The apartment is currently rented, providing immediate monthly cash flow. Once the building is demolished as part of the urban renewal process, the rental payments will be covered by the company throughout the construction period.
The property is located directly adjacent to the Ben Zakkai light rail line and within close proximity to San Simon Park, a neighborhood shopping center, synagogues, health clinics, kindergartens, and schools.
This is an ideal opportunity for an investor seeking stable monthly income today, with the upside of receiving a brand-new apartment with an estimated value of approximately NIS 7 million in about 7 years, upon completion of the project.
