A flat in Dundee that cannot get a mortgage due to its condition and needs “extensive” renovations has hit the market for £40,000.
The ground-floor property on Nelson Street – between Victoria Road and Ann Street, close to the city centre – is being marketed as an investment opportunity.
The one-bedroom flat is considered unsuitable for a mortgage as it requires “extensive specialist and upgrading works”.
Comprising of a lounge, a double bedroom, a kitchen and a bathroom, prospective buyers will need an eye for the flat’s potential.
New floorboards are required throughout the home and the existing kitchen and bathroom units will need to be ripped out.
However, the flat still offers potential – particularly the living room, which boasts high ceilings, a fireplace and a bay window.
The flat also comes its own front garden and a shared rear garden.
Martin & Co, which is marketing the flat for sale, says there has been strong interest in the property from developers due to the low price point of offers over £40,000.
It has also described the opportunity to buy a flat at this price as rare.
But anyone looking to snap up the property will need to act quickly, with a closing date for offers set for this Friday (December 22) at noon.
The Dundee fixer-upper flat is one of several properties or sites for sale in Tayside offering potential.
In rural Perthshire, a former railway station building offering a fantastic renovation opportunity is on the market for £225,000.
Back in Dundee, the site of the former Craigiebank Church in Dundee is for sale at offers over £150,000.
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