Frankly.
A magnificent property in need of complete renovation, with 3 balconies, in Justicia
€1.580.000
5-bed apartment with terrace on Centro in Justicia, Centro
5
bed
3
bath
185
At a glance:
Terrace · Lift · Parking · Needs renovation

In the heart of Madrid's Centro, within a noble building from 1908, this second-floor residence spans 185 m² across five bedrooms and three bathrooms. The apartment requires complete renovation, offering an opportunity to shape the interior according to contemporary vision while preserving the architectural character of its era. The property is defined by generous proportions and abundant natural light. Three balconies open onto the neighbourhood, framing views of central Madrid's streetscape. The building is equipped with a lift, and a terrace extends the living space beyond the main rooms.

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Listings that informed this estimate · centro
THE NEIGHBORHOOD

Centro

Centro is Madrid's medina — the historic core wrapped around the Royal Palace, Plaza Mayor, and the Austrias grid of narrow streets that have looked mostly the same since the 17th century. It's the most architecturally dense neighborhood in the city and the one most compromised by tourism pressure: the bulk of Madrid's short-term-let demand concentrates here, and Plan Especial de Hospedaje Ring 1 restrictions make new VUT licenses essentially unobtainable. The residential population that remains skews older, more local, and occupies buildings their families have held for generations. This is not a buyer's neighborhood in the Salamanca or Chamberí sense — it's a buyer's neighborhood for someone who values cultural density over space, light, and ease.

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Nearby
🚇 Sol
3 min · Line 1, 2, 3
🚇 Ópera
5 min · Line 2, 5
🚇 La Latina
6 min · Line 5
🏫 Brewster Madrid (Chamberí campus)
2.5 km · American / IB
🏫 Hastings School
5 km · British / IB
🏛️ Plaza Mayor