For Sale: Investment Property with Rental Apartments in Kato Korakiana, Corfu
Located in the Agia Eleni settlement of Kato Korakiana, this distinctive investment property comprises approximately 340 sq.m. including a 134 sq.m. basement, set within a generous plot of approximately 5,000 sq.m.
The property is surrounded by mature native Corfiot trees and lush shrubbery, creating a peaceful and private setting with considerable potential for further development and enhancement.
Property Layout
The complex currently consists of:
- Four two-bedroom apartments on the raised ground floor
- Each apartment includes a compact kitchen, one bathroom, and a veranda overlooking the garden
- A 72 sq.m. upper-floor apartment, formerly used as the family’s summer residence
- The upper-floor apartment includes two bedrooms, a spacious living room with kitchen, and a bathroom
- Its balconies enjoy views of the sea and the surrounding green landscape
The 134 sq.m. basement includes:
- Two unfinished studios
- A large multipurpose area with a kitchen and dining space opening onto the barbecue area
- Potential for an entertainment room, gym, laundry, linen store, general storage area, or boiler room
Renovation and Development Potential
The complex has been unoccupied and neglected for several years and requires substantial renovation to bring it up to modern standards and operate it efficiently as a tourism business.
The size of the plot offers excellent possibilities for creating attractive outdoor facilities, including:
- A swimming pool, which would significantly enhance the complex’s tourism potential
- Landscaped leisure areas
- A barbecue and outdoor dining area beneath a pergola or gazebo
- Additional seating and relaxation areas among the mature trees
The property also has its own private borehole, providing an independent water supply for both the apartments and the garden. This is a particularly valuable feature for a tourism business with a swimming pool and extensive landscaped grounds, especially during the summer months when demand is high and municipal water interruptions can occur.
Location and Amenities
The property is conveniently located near the provincial road connecting Corfu Town with Paleokastritsa and the northern part of the island. Kato Korakiana and the surrounding area offer a wide range of amenities, including:
- Supermarkets
- Cafés and pastry shops
- Restaurants
- Butcher shops and bakeries
- Frequent public transport, particularly during the summer season
Kato Korakiana has a primary school and kindergarten, while a junior high school is located in nearby Ipsos. A music-focused junior high and high school is also located in Kommeno. All are within approximately a ten-minute drive.
The cosmopolitan resort of Dassia is also around ten minutes away by car. It offers a beautiful beach, five-star hotels, numerous accommodation options, restaurants, shops, and a wide range of services for both residents and visitors.
Corfu Town can be reached in approximately thirty minutes by car, making the property suitable for both tourism development and private use.
Investment Opportunity
With its substantial existing accommodation, extensive grounds, private borehole, flexible basement space, mature gardens, and excellent location, this property offers significant potential for renovation and transformation into a successful holiday-rental complex.
It could also provide an attractive combination of business and lifestyle, allowing the owners to live on-site while operating a tourism enterprise in one of Corfu’s most desirable areas.
Key features: verandas, private borehole, no communal fees, garden, sea and countryside views, bright interiors, air conditioning, independent access, street-facing and garden-facing aspects, and exceptional development potential.
