A landlord mentioned this residential block of 3 apartments coming onto the market, he didn’t currently have the means to purchase himself, but wanted to discuss whether this type of block property would be a good investment in the future.
The block of three luxury apartments (appears to have six in the building, however I’ve not delved any futher than the information on Zoopla) located in Fazeley has an asking price of £425,000. You will find this being advertised by Bairstow Eves on Zoopla. The initial outlay would be massive, making this the sort of property purchase that would probably be more desirable to a larger investor who has the assets to purchase.
The building itself is in a desired location and the three apartments in the block are lovely, they offer canal side views and access to the lovely communal gardens. Each apartment has access to their own compact kitchen, two bedrooms and a modern bathroom.
A great opportunity for an investor with deep pockets, but smaller landlords may be advised to stay clear of such investments due to the large outlay. I would be cheeky in trying to get a good discount on the purchase price due to the block of three apartments having been on the market since August 2014. Don’t forget you would also have service charges to take into consideration.
I hope you enjoyed the article, It’s something a little bit different from the usual, but a great property to look at if you’re thinking of expanding your portfolio or branching out to something different, definitely one you’d need to really do your homework on though!