Property for renovation with 3 balconies overlooking the Teatro Real

Engel & Völkers presents this magnificent property for renovation, featuring three south-facing balconies and located in the heart of Madrid de los Austrias. Set within a beautifully preserved classic building dating from 1880, on one of the premium streets of the Palacio neighbourhood, the property enjoys spectacular views of the Teatro Real and the Royal Palace. Upon entering, a spacious hall leads us to the right into the living and dining room, a light-filled space illuminated by the natural light that pours in through its three balconies. Its generous proportions allow for the creation of several distinct living areas. Thanks to the property’s elevated position within the building, this room offers unique views as well as a remarkable sense of privacy. Returning towards the entrance, we find an area designed to accommodate a gym space with an en-suite bathroom. Continuing along a particularly bright corridor, which opens onto an interior courtyard, we reach the sleeping area, where the property’s three bedrooms would be located. Each bedroom would feature a spacious en-suite bathroom and dedicated floor-to-ceiling wardrobe areas offering excellent storage capacity. This same section also includes the kitchen and laundry area, all of which are exterior-facing. This is a property with exceptional potential, allowing its future owner to create a bespoke project tailored to their needs and equipped with every modern comfort, all within a historic residential setting. Its location makes it highly attractive both for investors and for those wishing to live in the heart of Madrid’s historic centre, just a few minutes’ walk from some of the capital’s main landmarks, while remaining close to open green areas and spacious urban surroundings. Images in the Exposé may have been optimized or adapted using AI for illustrative purposes.