Wise Properties Sales and Lettings Ltd says ..

Property Oracle says ..

This property on Mansfield Road, Nottingham, presents itself as a mixed-use investment opportunity comprising a commercial unit and a three-bedroom HMO flat. The listing highlights its central location and potential for high rental yields due to proximity to transport links and city amenities. However, the accompanying photographs reveal the property is currently undergoing extensive renovation. Some rooms show bare walls, exposed wiring, and unfinished work, while others display basic, dated fixtures and fittings. The external view of the building shows it to be in a slightly run-down state, with some graffiti evident. The property’s rear area shows a small, unkempt yard.

The location is beneficial, offering potential for both residential and commercial rental income. Proximity to Nottingham Trent University may further enhance the appeal to students. However, the surrounding area’s reputation should be carefully considered, especially when it comes to assessing longer-term rental prospects. Overall, the property’s condition would necessitate significant investment in repairs and refurbishment before it could be fully operational and realize its maximum rental potential. The lack of detailed information regarding the exact nature and cost of these renovations is a noteworthy concern. Given the asking price of £399,000, prospective buyers would need to meticulously assess the scope of required repairs, potential rental yields, and long-term investment feasibility before deciding whether the price is justified. Due to the large scale of refurbishment required, the asking price of £399,000 is moderately reasonable. This is a project that requires experienced investors to carefully balance risks and returns.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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