A house for sale in London is likely to attract a lot of attention after being listed for a shockingly low price.
The flat for sale in Westbourne Park Road, London, will be hugely attractive to many.
Not only is it beautifully decorated inside, but it is listed on Zoopla for just £22,148 by GPS (UK) Ltd.
They claim there is “potential for fantastic rental returns”.
They claim a buyer could make £22,536.96 in a year renting out the flat – so it would pay for itself within the year.
The listing reads: “GPS are thrilled to present a rare but lucrative opportunity to purchase this property with five years remaining on the Leasehold.
“The apartment benefits from a superb central London location, with principal commercial, leisure and shopping areas all within easy reach by public transport.
“This is an absolutely fantastic opportunity to acquire this spacious three-bedroom fully furnished apartment!”
So what is the catch? There is only five years left on the lease of this property.
The advert adds: “Disclaimer – There is no option to purchase at the end of the term.
“Tenants may choose to self occupy this apartment although GPS would advise that this property is set up for and used as serviced accommodation.
“The figures provided are potential returns and we offer no guarantees.”
In general it is not advised to buy properties with less than 80 years on the least at the very minimum.
However, for someone this might prove the perfect deal.
The average sale price in the area in the last 12 months was £1,108,202 with over 240 properties sold.
Another property for sale for listed for just £34,250.
Similar homes nearby have recently sold for as much as £181,995, so why is this property so cheap?
The home is described as being in a prime location with easy access to the motorway.
It is also half a mile from the nearest train station and close to the city centre.
However, a quick look at the advert soon makes it apparent why the asking price is so low.