Investment Property available

enolhta


Joined: 24/06/2011
Posts: 14

Message Posted:
28/06/2011 08:55

Large 10 room apartment in Nicosia city centre, currently rented, with rental income of £10,500 is available for sale. Property is originally Turkish Title and situated in best area of Nicosia. Price for quick sale £100,000

Phone 0542 876 99 48 or emaqil frank.kennedy@ymail.com

tonykyte


Joined: 19/04/2008
Posts: 270

Message Posted:
28/06/2011 19:09

Either the rents are very cheap £87.50 per month per appartment if all 10 let. Sounds to me that either not all the appartments are let or rents are not being paid !!!

erolz


Joined: 17/11/2008
Posts: 3456

Message Posted:
28/06/2011 19:14

Am I missing something here ? Does the original post not talk about a single appartment with 10 rooms ? Even if its 10 appratments dont see how you reach a figure of 87.5 per apratment per month from montly rental income of 10500 ?Anyway seems to me the biggest problem with a possible sale on here would be the need for PTP for non citizens which seem to not be being given on pre74 title currently.

moonshiner69


Joined: 21/09/2007
Posts: 24

Message Posted:
29/06/2011 12:56

Erolz

I don't think you will find that the £10,500 is a monthly rental return, unless these are luxury apartments being rented at £1050 pm. It would be one hell of a good investment if you could return your £100,000 initial investment under 10 months don't you think? The advert never mentioned monthly/annually rental income anyway.

enolhta


Joined: 24/06/2011
Posts: 14

Message Posted:
30/06/2011 11:20

Sorry, I should clarify the rental situation. The propertyu is rented to students on 10 month lease so £10,500 is total rent for 10 month period.