3 bedrooms apartment, 197 m²

Spoleto, Perugia (province)

In Spoleto’s historic centre, a bare ownership apartment of approximately 197 sq m commercial floor area, with a terrace and balconies, a spacious living room, kitchen, 3 bedrooms, a study and 3 bathrooms. The asking price is approximately half the estimated value of the full ownership (€260,000). The current owner, born in 1950, will retain a lifetime usufruct. Ideal for buyers seeking a medium- to long-term property investment.

€130,000 less upfront today: the equivalent of more than 21 years of gross rental income
By purchasing the bare ownership for €130,000, compared with an estimated full ownership value of €260,000, the buyer makes an immediate saving of €130,000.

To generate the same amount by renting the apartment at €500 per month would require 260 months, or 21 years and 8 months, before taking into account taxes, running costs or any periods without a tenant.

In capital terms, this is equivalent to having access today to the value of more than 21 years of gross rental income, rather than receiving it gradually month by month. The lower initial outlay also leaves capital available for other investments: assuming a net annual return of 3%, with returns reinvested, €130,000 would grow to approximately €247,000 over the same period.

This advantage of the lower initial investment should, of course, be considered alongside the fact that the apartment will become available for use only once the usufruct comes to an end.

Geographic position
Spoleto Belvedere Apartment is located in the historic centre of Spoleto, a 5-minute walk from Piazza del Mercato and around 10 minutes from Piazza del Duomo and the Giro della Rocca.
One of the particularly convenient aspects of the location is the possibility of reaching the building directly by car and parking in the immediate vicinity. The Spoletosfera car park is also close by; one of the city’s main public parking facilities, it is connected to the historic centre by moving walkways and lifts.

The location is also convenient for everyday needs, with shops, restaurants, cafés and services in the historic centre all within a few minutes’ walk.

Spoleto is one of the best-known and most highly regarded towns in Umbria, renowned for its historical and architectural heritage and for the many cultural and artistic events held throughout the year, including the prestigious Festival dei Due Mondi.
The property is also strategically located for reaching the main historic towns of Umbria and central Italy. Todi (44 km), Assisi (47 km) and Perugia (64 km) can all be reached in around 45 minutes, while Orvieto (98 km), Rome (125 km) and the Adriatic Coast (128 km) are approximately an hour and a half away.

For air travel, the nearest airport is Perugia Airport, approximately 57 km away, while Rome Ciampino and Rome Fiumicino airports are approximately 141 km and 158 km away respectively.

Description of buildings
The property is arranged over two levels, with a commercial floor area of approximately 197 sq m, in addition to three balconies measuring approximately 4.7 sq m, 3 sq m and 2 sq m, and a terrace of approximately 9 sq m.

Second floor
- Living room with fireplace and panoramic balcony overlooking the Rocca Albornoziana, the Ponte delle Torri and Monteluco
- kitchen
- dining room
- bedroom with balcony overlooking the inner street
- study
- bathroom
- further bedroom with panoramic balcony, hallway and en-suite bathroom.

Upper floor
- Bedroom
- bathroom
- terrace of approximately 9 sq m.

The floor area has been calculated on the basis of the net usable internal area, including internal partitions, with an additional 10% allowance for load-bearing walls.
The areas of the balconies and terrace are calculated separately and are not included in the total floor area.

State and finishing
The apartment is in good condition and combines traditional architectural features with finishes introduced in more recent periods.

Among its most distinctive elements are the wood-beamed ceilings, found in the living room, part of the dining room and the bedroom on the upper floor.
The floors are predominantly parquet, with ceramic flooring in the kitchen, bathrooms and upper-floor bedroom.
The living room features a fireplace, while the dining room has a second fireplace with a stone surround, currently fitted with a stove.
The eat-in kitchen is fitted with wooden cabinetry and light-coloured worktops, while the bathrooms have traditional ceramic finishes and classically styled sanitary ware.

External areas
The apartment has three balconies, measuring approximately 4.7 sq m, 3 sq m and 2 sq m respectively, as well as a terrace of approximately 9 sq m on the upper floor.

The balcony off the living room and the one serving the adjoining bedroom both face Monteluco, with open views across the green holm-oak woods covering the hillside. To the left, the view takes in two of Spoleto’s most iconic landmarks, the Ponte delle Torri and the Rocca Albornoziana.
The third balcony overlooks the street where the entrance to the building is located.

On the upper floor, next to the bedroom, there is also a recessed roof terrace of approximately 9 sq m, set into the roofline and offering a particularly pleasant and private outdoor space for use during the warmer months. From here too, the views extend towards Monteluco, the Rocca Albornoziana and the Ponte delle Torri.

Use and potential uses
The sale concerns the bare ownership of the property: the buyer will become the owner immediately, while the current owner will retain a lifetime usufruct and therefore the right to use the property for the rest of her life. Once the usufruct comes to an end, the buyer will automatically acquire full possession of the property.

The main advantage of this arrangement is the opportunity to purchase the property today at a price below the value of full ownership, while postponing its use until a later date. The purchase is therefore particularly suited to buyers seeking a medium- to long-term property investment in Spoleto’s historic centre, with the aim of acquiring a spacious, centrally located property on more favourable financial terms.

Given its size, layout and features, once full ownership has been acquired, the apartment could be used either as a primary residence or as a second home.
Its location in the historic centre, together with three balconies, a panoramic terrace and proximity to Spoleto’s main attractions, could also make the property suitable for future rental use, either on a long-term basis or as holiday accommodation.