The property is situated in one of the most attractive investment districts of Pārdaugava, which has established itself as a functional and cost-efficient alternative to central Riga. With comparable transport accessibility, acquisition prices are significantly lower, while rental demand remains stable and continues to grow.
Tornakalns stands out for its high liquidity: quick access to the city center, the Mūkusalas business district, and major transport arteries, along with well-developed everyday infrastructure. Within a few minutes’ walk are the Delfi Business Center, Riga Plaza, and the University of Latvia, further enhancing convenience and long-term attractiveness.
The area also offers a pleasant living environment with nearby green spaces and parks, providing quality residential surroundings and attractive views. This creates a broad pool of potential tenants—students, young professionals, and long-term residents.
A key demand driver is the active expansion of the University of Latvia’s academic campus. In the near term, new buildings will complement existing facilities, bringing thousands of students and qualified professionals to the area. Given the limited supply of new residential projects in the district, the shortage of quality apartments supports stable rental income and long-term value appreciation.
Location: Latvia, Riga, Jelgavas Street 24
Land plot area: 3,989 m²
A complete set of permits is in place: a valid construction permit for a new multi-apartment residential building, as well as a fully approved project for the reconstruction of an existing building for residential use.
Building No. 1 – Key Specifications:
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Building footprint: 1,161 m²
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Gross Building Area (GBA): 4,200.6 m²
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Net usable area: 3,444.9 m²
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Above-ground floors: 4
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Residential units: 102
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Parking spaces: 16
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Bicycle parking spaces: 109
Building No. 2 – Key Specifications:
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Gross Building Area (GBA): 327.0 m²
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Net usable area (1st floor): 183.9 m²
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Net usable area (2nd floor): 112.6 m²
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Above-ground floors: 2
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Residential units: 4
Project documentation is available, including the site master plan, technical building plans, and facades.
Investor Offer:
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Sale price: €1,196,700 (€300/m²)
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Subject of sale: land plot with approved project documentation
