Overview
- 2 Bedrooms
- 2 Bathrooms
- 614 m2
- 110 m2
Description
In rapidly developing Mersin, making a lucrative, low risk and pacy high return is possible! Invest in this bargain 110 sqm Two bedroom unit and get in line for the Urban Regeneration call in due course.
Location of the Property
Mersin’s coastline is a preferred strip to live on all the way from the East to the West, however the Pozcu area of Yenisehir stands out. The central location of Pozcu, as one of the first neighbourhoods of new Mersin in the 70’s, creates huge potential of Urban Regeneration due to the relatively old building stock of the area. The average building age where our property is 42.
The building our resale apartment is located in, is on a connecting street between the two main axes. Your investment unit is easily reachable by public transport or private car. Nearby, there are various cafes, restaurants and shopping areas. In short, from hair dresser to tailor your tenant will have everything they need in this area.
Location is very well-known, and the building is second to the sea.
Features of the Urban Regeneration Apartment
Our apartment is on the 2nd floor of a block comprising of 7 floors. On the ground floors there are two commercial units, and on each floor upwards there are 3 apartments. The plot is 614 sqm and your land share with this apartment is 25,22 sqm. In the building there are 20 units in total.
Your unit is on the rear side of the building. On the Northeast corner there is a large living room with a balcony to its corner. East side to the middle there are 2 bedrooms. In the middle section the bathroom and separate toilet sit. The very South of the apartment has the kitchen and another balcony.
As the building is from early 80’s the apartment is relatively outdated however tenanted as is.
Investment Tips
This apartment generates 120.000 TL rental income already. There is a 6.3% return on the list price.
First tip and of course it will be your choice; we could renovate the apartment to maximise the rental return. This requires a 300.000-450.000 TL investment in to the refurbishment of the unit. After the renovation this unit would go for 15.000-16.500 TL per month. That makes your return from the total investment, 8,31%.
Of course you could keep the apartment in its current form. The focus of this investment is the upside which will come from the Urban Regeneration investment. You could say the new unit which will be built in this area will easily be over 4.000.000 TL, doubling your investment. Estimation is of course in todays money.
