Location
Strūgu iela 3
Centrs
Facilities
Price History
Description
The best investment in Riga – an apartment in an Art Nouveau building designed by Mikhail Eisenstein in the very center of Riga. There is only one apartment on the third floor, ensuring privacy and quiet. The staircase is well maintained and has historical charm.The most significant added value of this property is the upcoming building improvements. Basement reinforcement and renovation work will begin and be completed in 2026. The contractor for this work has been officially approved, and the process will be implemented as the first stage of the building's renovation. This will be followed by the renovation of the facade – an inspection has already been carried out, and residents are actively voting on the facade elements and final solutions. The owners plan to submit a funding application in 2026 to carry out a complete renovation of the building's exterior. This work will significantly increase the value of the property and the prestige of the building.There are only 19 buildings designed by Mikhail Eisenstein in Latvia, and this is his last building. Eisenstein's renovated houses (for example, at 10 Elizabetes Street or 4 Alberta Street) usually reach a stable price level of €4, 000-5, 000/m² on the market. Of course, the location on Strūgu Street is a little more modest, but after the renovation of the apartment and the building, a value increase of €2, 000–3, 000/m² is very realistic. There is also the possibility of dividing the apartment into two, as there are two separate entrances.The current price – €947 per square meter – is unusually low for a property of this caliber and potential, and is directly related to the fact that the building is currently on the list of environmentally degraded properties. This means that the apartment cannot currently be purchased with bank financing. Therefore, the property is particularly advantageous for buyers with their own funds or investors who see an opportunity to purchase the property below market value and expect a significant price increase after renovation.The apartment has a convenient and well-thought-out layout:- separate kitchen for convenient cooking- spacious living room- elegant, recently renovated fireplace in one room and the possibility to build another one in the central room- windows on both sides of the house, providing natural light- bathroom and kitchen windows facing the quiet courtyard, the rest facing the newly built children's playgroundAdditional advantages:- individual gas heating for convenient temperature control- €25 per month for residents for parking in Zone C (if necessary)- the house is managed by an association that takes care of maintenance and quality decision-makingExcellent location – near the railway station, Central Market and Stockmann shopping center, providing convenient access to everyday amenities and public transport. This is a place where historic architecture meets the dynamics of the city center.A rare and promising offer for those who appreciate history, Art Nouveau aesthetics, and smart, long-term investments. An apartment that will gain a completely different market value after the planned renovation work. A video tour is available at the link below.Read more
Strūgu iela 3 Centrs
Location
Strūgu iela 3
Centrs
Facilities
Price History
Description
The best investment in Riga – an apartment in an Art Nouveau building designed by Mikhail Eisenstein in the very center of Riga. There is only one apartment on the third floor, ensuring privacy and quiet. The staircase is well maintained and has historical charm.The most significant added value of this property is the upcoming building improvements. Basement reinforcement and renovation work will begin and be completed in 2026. The contractor for this work has been officially approved, and the process will be implemented as the first stage of the building's renovation. This will be followed by the renovation of the facade – an inspection has already been carried out, and residents are actively voting on the facade elements and final solutions. The owners plan to submit a funding application in 2026 to carry out a complete renovation of the building's exterior. This work will significantly increase the value of the property and the prestige of the building.There are only 19 buildings designed by Mikhail Eisenstein in Latvia, and this is his last building. Eisenstein's renovated houses (for example, at 10 Elizabetes Street or 4 Alberta Street) usually reach a stable price level of €4, 000-5, 000/m² on the market. Of course, the location on Strūgu Street is a little more modest, but after the renovation of the apartment and the building, a value increase of €2, 000–3, 000/m² is very realistic. There is also the possibility of dividing the apartment into two, as there are two separate entrances.The current price – €947 per square meter – is unusually low for a property of this caliber and potential, and is directly related to the fact that the building is currently on the list of environmentally degraded properties. This means that the apartment cannot currently be purchased with bank financing. Therefore, the property is particularly advantageous for buyers with their own funds or investors who see an opportunity to purchase the property below market value and expect a significant price increase after renovation.The apartment has a convenient and well-thought-out layout:- separate kitchen for convenient cooking- spacious living room- elegant, recently renovated fireplace in one room and the possibility to build another one in the central room- windows on both sides of the house, providing natural light- bathroom and kitchen windows facing the quiet courtyard, the rest facing the newly built children's playgroundAdditional advantages:- individual gas heating for convenient temperature control- €25 per month for residents for parking in Zone C (if necessary)- the house is managed by an association that takes care of maintenance and quality decision-makingExcellent location – near the railway station, Central Market and Stockmann shopping center, providing convenient access to everyday amenities and public transport. This is a place where historic architecture meets the dynamics of the city center.A rare and promising offer for those who appreciate history, Art Nouveau aesthetics, and smart, long-term investments. An apartment that will gain a completely different market value after the planned renovation work. A video tour is available at the link below.Read more