Investment property for sale - a working apartment hotel in Riga. The hotel is located in the centre of Riga on Gogoļa Street, which is a short walk from the centre of Riga. The hotel is next to the central railway station (including Rail Baltica) and the bus station. The main tourist destinations such as the Old Town and Riga's historic centre, with its wealth of Art Nouveau architecture and most of the city's sights, are nearby.
The five-storey hotel building designed by Rudolf Philipp Donberg and built in 1900 is a rich heritage of Art Nouveau architecture. The building has a total area of 3499 m2, 2 294 8 m2 of apartments, with the potential to build another 450 m2 of rooms (approximately 18 rooms on the penthouse floor).
The hotel building was completely renovated in 2021, including a new roof, new floors, stairs, lifts and all other facilities. During construction, the historic walls (brickwork) were restored, carefully preserving the historic details. Historical elements such as the facade, entrance doors and roof tower were completely restored and renovated. The building has high quality thermal insulation, fireproof and soundproof interior walls, triple glazed sealed units, top quality materials from leading manufacturers (Rukki roofing, Rockwool thermal insulation, Uponor piping, etc.). The building is equipped with the most modern utilities: independent gas heating station with regulation in each room (up to 60% cheaper than communal heating), modern high quality lifts (built to provide access to the 6th floor), central surveillance system (70 video cameras), intelligent fire alarm system with detectors throughout the building, modern door locking system allowing independent access by PIN code received by phone.
After the conversion, the building has been converted into an apartment hotel with 92 apartments. Each apartment is designed for comfortable and complete living as a residential apartment. Most of the apartments are 25 m2. They have a built-in kitchenette, shower/bath rooms, lounge and sleeping areas. Internet access, washing machine and parking are available. All apartments are very bright and have views of the city centre, with at least two large windows. Among 4-star hotels in Riga, the apartment hotel is the only one where all rooms are fully equipped for long periods of stay.
The apartments in the house have been deliberately designed so that each guest can find the place that best suits their needs, wishes and feelings.
The business models of the apartments allow the hotel to cater for both the private and business sectors.
