Jones Cameron Estate Agents says ..

Property Oracle says ..

This property in Preston city center presents a unique investment opportunity in the form of a multi-unit residential building encompassing 30 self-contained apartments. The building’s Georgian architecture and the mention of original features suggest potential character and charm. The location, within walking distance of Preston train station and various amenities, including schools and the University of Central Lancashire, adds to its appeal as a rental property. The provided photos reveal the condition of individual apartments, which generally appear clean and functional, although some could use minor improvements for aesthetics and modernization. A lack of available land is commonplace for properties in this city center setting. The list price of £1,750,000 is substantial and likely justified by the potential rental income from 30 tenancies. However, a comprehensive analysis of the rental market, tenant occupancy rates, and running costs for maintenance and property management would need to be carried out to evaluate the true profitability and return on investment of this substantial purchase. The absence of plot size data in the provided description makes detailed assessment of the value per sqft impossible. The age and architectural features should be considered when budgeting for potential maintenance and repairs, as well as potential renovation work to maximize rental value.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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