An exceptional real estate investment opportunity located in the historic core of Alcácer do Sal, just a short drive from the exclusive beaches of Comporta. This unique property comes with an approved architectural project (PIP) to transform the current structure into two independent residential units (a 1-bedroom duplex and a studio duplex), maximizing rental yield or private usage. The architectural layout preserves the historic Portuguese vernacular facade—smooth white-washed walls and traditional clay tiles—while completely reimagining the interior into a sleek, modern oasis. Both units feature functional mezzanine spaces and restore the original fireplaces as sophisticated design statements. The elevated courtyard is cleverly divided into two private patios, creating a serene outdoor sanctuary with direct views toward the Sado River and the scenic rice fields. Outfitted with high-end energy-efficient PVC windows and Guardian Sun double glazing, this project is a top-tier acquisition for discerning investors seeking equity growth and premium short- or long-term rental income in Portugal's most sought-after coastal countryside region.