For sale: Residential building divided into apartments - rental property

Alpaca Immobilier presents to you exclusively this residential house of approximately 169 m2, located in the heart of the highly sought-after Beaux-Arts neighborhood in Montpellier, less than 300 meters from the tram line 2.
The house is part of a co-ownership but has the particular feature of being physically completely independent from the residential complex. It currently participates neither in the general assemblies nor in the common expenses thereof.
The property is currently organized into three independent units: a studio, a three-bedroom, and a four-bedroom, a configuration in which it has been operated for approximately 20 years.
The current tenants will remain for the duration of the student season, namely 9 months.
The house has approximately 169 m2 of living space, distributed as follows:

A T1 of approximately 24 m² on the ground floor;
a T3 of approximately 60 m2 on the ground floor;
a T4 of approximately 85 m² on the upper floor.

The entire complex is situated on a plot of approximately 400 m2. A garden surrounds the house and the various dwellings have access points that currently allow relatively independent use of the outdoor spaces.
The owner has carried out various improvement works over time: refreshing the paint, renovation of kitchens and bathrooms, as well as the installation of air conditioning in the T3 on the ground floor, in particular.
Each apartment has its own electricity meter and two units also have a sub-metering water meter. Consumption and charges are currently apportioned by the agency.
Parking is possible on the property and in the neighborhood, notably through the resident subscription.
A property suited to multiple projects
The configuration is particularly interesting for a rental investment, with revenue potential that could approach €3,500 per month depending on the mode of operation and rental periods, representing a theoretical gross rental yield of approximately 9%.
The house can also be suitable for a large family or multiple members of the same family wishing to share the different levels, while maintaining a certain independence.
In the long term, several strategies are possible: continuing the rental operation, combining all or part of the units to restore a large family home, or studying a regularization and subdivision project.
A legal peculiarity to know
It is important to clarify with complete transparency that, legally, the property currently constitutes a single residential dwelling.
The current configuration in three apartments, although operated in this manner for approximately 20 years, has not been subject to a legal division at the co-ownership level nor, to our knowledge, to an urban planning authorization formalizing this division.
A separate sale of the three apartments is therefore not possible in its current state. Any project involving subdivision or piecemeal sale must first be subject to the necessary procedures and authorizations, the feasibility of which will remain to be verified by the buyer.
The Beaux-Arts neighborhood, its immediate proximity to the tramway, shops and downtown Montpellier, as well as the atypical configuration of this house, make it a property offering particularly attractive rental and heritage potential.
Original plans and additional information available upon request.