Benson & Partners says ..

Property Oracle says ..

This property located on Lower Addiscombe Road in Croydon, presents a mixed bag of opportunities and challenges for potential buyers. It’s a large property (2,444.48 sqft), featuring two upper apartments situated above a commercial building. This mixed-use nature represents a unique investment prospect, potentially appealing to investors looking for rental income from both residential and commercial tenants. The location is advantageous, falling within relatively close proximity to East Croydon Station and benefiting from a number of schools nearby. The nearby high street provides amenities and local services within easy reach. The property’s current condition, however, is a significant factor. From the photos, it seems in need of both internal and external refurbishment. The lack of outdoor space is a notable drawback. Finally, considering the £650,000 list price and the need for renovation, it’s important to thoroughly assess the potential return on investment before committing to a purchase. A careful cost analysis incorporating refurbishment, potential rental income, and comparable property values will be crucial in determining the true market value and the profitability of this investment opportunity. The property would also suit a developer looking to reconfigure or extend the building.

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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