Exclusive Investment Opportunity in the Heart of Riga

Historic Property for Sale – Prime Location Opposite Two Picturesque Parks & Old Town
Located on Merķeļa Street, one of Riga’s busiest and most vibrant streets, this exceptional property offers a unique opportunity for investors. With its prime city-center location, stunning historical architecture, and mixed-use potential, this is a rare find in the Latvian capital.

This national heritage building was designed by renowned architect Jānis Frīdrihs Baumanis and built in 1872. It features four floors, a basement, and an undeveloped attic, all set on a 1,624 m² plot of land.

The total building area is 2,539 m², including 1,632 m² of residential space with 23 apartments and 450 m² of commercial space on the ground floor. The layout includes larger apartments on the facade side and smaller units in the courtyard, with three staircases and a closed courtyard providing privacy and convenience.

The property is in good technical condition but requires a full renovation and elevator installation. This presents a significant value-add opportunity for investors looking to develop luxury apartments, serviced offices, or boutique commercial spaces in one of Riga’s most sought-after areas.

With its strategic location, high rental demand, and competitive price of €886/m², this is an exceptional opportunity for international buyers seeking high returns and long-term value.

Contact us today to learn more or schedule a viewing.