Michael Poole says ..

Property Oracle says ..

This property is a multi-unit apartment building located in Victoria Apartments on Diamond Street in Saltburn-by-the-Sea, North Yorkshire. The listing boasts 8 bedrooms and 9 bathrooms spread across what appears to be multiple units within the building. The listing price is £799,950. The property is situated near the train station, offering convenient transport links. Several primary and secondary schools are within a reasonable distance. The building itself has a traditional appearance; its age suggests that it potentially requires occasional maintenance.

The interior of the units shown in the photos displays a mixed condition. Some areas like kitchens are modernised, featuring contemporary cabinets and appliances. However, other areas, including the staircases and some of the flooring, show their age, suggesting that upgrades might be needed to enhance the overall aesthetic appeal and market value. The available square footage is relatively modest at 700 sqft, which will play a role in the overall assessment of value. The absence of a garden or significant outdoor space is also a factor that needs to be considered. The lack of information about the specifics of the individual units within the building further complicates a comprehensive evaluation.

In terms of pricing, £799,950 seems significantly above market value compared to nearby comparable properties. Properties on Milton Street, for instance, display values that are significantly lower, indicating a potentially overinflated price for this property. A detailed examination of recent sales in the area of similar sized properties with a comparable number of units would be vital to form a conclusion on the value. The lack of plot size details reinforces a concern regarding the value proposition.

Potential buyers should carefully evaluate the true value and understand the ongoing maintenance costs before making a decision, as the high purchase price raises significant questions that need answering before making an offer.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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