Investment Property — Rental Apartment Building at Blaumaņa Street 14, Riga City Centre
A stable and well-maintained income-producing property in the very centre of Riga, at the intersection of Blaumaņa and Tērbatas streets. Three buildings with residential, commercial units and strong development potential.
Investment Property — Rental Apartment Building at Blaumaņa Street 14
City Centre, Riga | Stable income property with development potential
For sale: a stable and well-maintained rental apartment building in the heart of Riga, located at the highly sought-after intersection of Blaumaņa and Tērbatas streets — one of the city’s most active commercial and pedestrian areas.
The property consists of 3 buildings with residential apartments and commercial units on the ground floors, generating approximately ~6% annual yield with clear upside potential.
For sale: a stable and well-maintained rental apartment building in the heart of Riga, located at the highly sought-after intersection of Blaumaņa and Tērbatas streets — one of the city’s most active commercial and pedestrian areas.
The property consists of 3 buildings with residential apartments and commercial units on the ground floors, generating approximately ~6% annual yield with clear upside potential.
- Price: €3,400,000
- Total area: 2,386.5 m² + ~1,030 m² undeveloped attic space
- Net leasable area: 1,938 m²
- Price per m²: €1,424.98
- Apartments: 38 (24–70 m²)
- Commercial units: 5 (street-facing ground floors)
- Buildings: 3
- Annual property tax: ~€11,000
Property Structure
A. Front Building — Blaumaņa Street 14
4 floors | 15 apartments | 1,046.1 m²
B. Courtyard Building (1897)
4 floors | 12 apartments | 613.5 m²
C. Corner Building — Tērbatas Street 22/24 (1890)
2 floors + basement | 4 apartments | 726.8 m²
Additional:
Income & Upside Potential
Upside potential:
A. Front Building — Blaumaņa Street 14
4 floors | 15 apartments | 1,046.1 m²
B. Courtyard Building (1897)
4 floors | 12 apartments | 613.5 m²
C. Corner Building — Tērbatas Street 22/24 (1890)
2 floors + basement | 4 apartments | 726.8 m²
Additional:
- Basement beneath the courtyard — 153.6 m²
- Gated, paved courtyard
- 6 parking spaces
Income & Upside Potential
- Stable long-term rental demand in the city centre
- Commercial units located on high-footfall streets
Upside potential:
- ~1,030 m² undeveloped attic space (possible mansard development)
- Rental price adjustment to market levels
- Optimisation of commercial lease agreements
- Possible functional conversion (short-term rental, mixed-use model)
Technical Infrastructure
- District heating (“Rīgas Siltums”)
- Central gas connection
- New 3-phase electrical system
- City water, sewage and stormwater systems
- Renovated street façade on Blaumaņa Street
Location
- Intersection of Tērbatas and Blaumaņa streets
- Old Town — 7 minutes walk
- Latvian National Opera — 5 minutes
- Dailes Theatre — 5 minutes
- Public transport directly next to the building
Why this property?
✔ Prime city-centre location with stable demand
✔ Diversified portfolio (residential + commercial)
✔ Attractive acquisition price per m² for this area
✔ Development reserve without immediate capex
✔ Predictable cash flow
📩 Additional information, financial details and viewings — upon request.
Schedule a property viewing:
Aivita Oša
aivita@relive.lv
+371 29191065
aivita@relive.lv
+371 29191065
