Area: El Medano
Complex: Medano Beach
Price: 175,000€ (approx)
Mortgage available: 166,250€
Mortgage per month: 794€
Cash deposits needed: 29,500€
Exterior m2: 120
Garden: Huge Garden
Community Fee per month: TBC
Sorry, this property is sold! We sold it in just 4 weeks!!! It was an excellent price, heavily reduced and the best position on the complex – make sure you do not miss out on the next one by subscribing to repossession and bargain property alerts below and receive all our new listings as we publish them – don´t miss another Tenerife bargain!
3 bed 2 bath corner townhouse for sale Medano Beach, El Medano – some renovation required.
Standard pricing in this market for a property this size is around 260,000€. We have been given a guide price of 206,000€ due to the condition but we have it on good authority this property could be had for closer to 175,000€ although please be aware that this price is by no means guaranteed.
We can also offer an enhanced mortgage facility on this property of up to 95% meaning if we can achieve a price of 175,000€, it could be bought for as little as a 29,500€ cash deposit leaving plenty of cash available for reformation work.
The developer has had major problems (like many developers in Tenerife) and has been unable to pay for the ongoing maintenance on these new build properties as they tried to sell them at over-inflated prices in a falling market. The result is this property could be yours at a knockdown price – if you´re prepared to put the work into bringing it back up to standard. Several years worth of dirt and grime have accumulated and the property needs some renovation work although it has never been sold nor ever been lived in.
The property is a high quality, spacious 3 bedroom 2 bathroom town house on a large plot (over 200m2) occupying a prime corner position and is front line to the sea on the Medano Beach complex. The views are superb and are a the major selling point. Downstairs you have a large lounge, kitchen area and toilet. There is a huge wrap around garden and car port with patio doors leading into the lounge. There is also a box-room sized outdoor area suitable for laundry etc which all other owners have had enclosed to enlarge the already spacious downstairs area.
Upstairs there are 3 bedrooms, one of which is the master bedroom with en-suite bathroom and walk in wardrobe. There are two balconies off the rooms upstairs, one of which looks out to the unspoiled sea views.
There are 5 phases in total to the complex and each phase has its own swimming pool. The area surrounding the complex is quiet, upmarket and residential with the coast to the front and to the side.
An excellent project and a knock down price for a front line property in a prime position. We have photos of a similar property in perfect condition. If you would like to see these, drop us an email.
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