Repossessed Beach Apartment in Valencia
Sold
3 bedrooms | Apartment | Beach | Valencia City
Property: 83 m²
Price: €52,000 Euros.
This property is a repossessed apartment in Valencia which the bank have just halved their price on. Just 52000 a five minute walk from the beach in Valencia, with three or four bedrooms depending on how you decide to rehabilitate it, living room, kitchen, and bathroom. It needs a total modernisation which should cost around 20-25000 Euros.
So why should you buy this flat? It is a blank canvas and you could put it however you want. It is in a good area near to the beach at a rock bottom price. It has a lot of space. Why might you not want to buy it? It requires work, no doubt about it. It is fourth floor without a lift. You might prefer something in the centre, but expect to pay at least two and a half times the price of this one for the same size and specifications.
Here is the interesting part. The bank will finance up to 90% for qualifying customers on this flat. Therefore very little downside on the investment. A good modernisation should allow you to rent out for around 400-500 Euros per month or sell on at a profit.
