Sorry, this property is no longer available! It was an absolute bargain price – 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!
Price
Further price drop on this 3 bedroom 2 bathroom apartment in La Concepcion complex, Llano del Camello. At just 96,600€ this apartment is simply AMAZING value for money and a frighteningly good Buy to let investment.
Standard pricing for a similar apartment on this complex is from 150,000€ upwards and we only have this one unit for sale at a massively discounted price. Once this one is sold, you will need to pay a lot more to buy a 3 bedroom apartment on this complex or any of the complexes in this area including Biltmore and El Faro.
Buy to let investment income
These make fantastic family homes and at this price it would be a sound investment as a buy to let. Long term rental on this type of property is around 750€ per month (9,000€ per year) which gives 9.3% Gross return or 8.5% if you factor in the purchase costs.
If you could arrange an 80% mortgage over 30 years you would be looking at repayments as low as 336€ per month. This would require an initial outlay of just 29,000€ (20% deposit plus 10% costs.) We estimate the net income after paying a mortgage and community fees to be around 350€ per month which is almost a 15% return on the 29,000€ you pay in. On top of this you have built in capital appreciation as this is being sold far below its current market value.
The full details of the property are here on our website:
La Concepcion bargain apartment for sale, Llano del Camello
If you would like to discuss a viewing or purchase contact us now before a savvy investor snaps this one up!
