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Description no.AF04090 Local area Recommend this property Print Contact the agency

Reference : AF04090 Number of rooms : 18 Number of bedrooms : 4 Habitable area : 394 m² Size of land : 770 m² Land tax : 3 025 € PRICE : 225 000 €   (Agency Fees Included) Close to the centre of the cosmopolitan town of Tarbes, and to the market place (fabulous Thursday market), this period house is divided into 8 studio apartments (6 needing renovation), total area 394m², a shop/office, and 13 garages in grounds totalling 770m². Rental income could exceed 13% of outlay. Situated in a quiet cobbled cul de sac, this former hotel offers lots of potential, simply as studio apartments, or as student accommodation, or as offices….. The alley which serves the flats and the garages is co-owned, and still retains the ancient right to tie up your horses… Current revenue from the apartments is 1,600 €uros monthly. The property needs renovating, apart from two apartments (30m² and 105m²), an office and a meeting room which are renovated and let. Sensibly renovated, you would be able to realise 3,700 €uros per month. There is a quote of an estimated cost of 110,000 €uros to create four one bedroom flats and 2 studios. Thus, the return on expenditure could be in excess of 13%, and cashflow would benefit from TVA on building works at 5.5%. On the ground floor there is a town house of 60m², with potential to let as two one bedroom flats (potential income 340€ + 390€ = 730€). There is also the possibility to extend it by 34m². A staircase takes you to the first floor balcony, off which you find a one bedroom flat, an office, and a meeting room. On the second floor you find a well lit three bedroom apartment (currently let) offering a view of the Bourse de Travail of Tarbes. There are also three additional bedrooms which could be converted to 2 studios, which are accessed by a wooden balcony. The roof space has not been converted, but could be utilised when converting the apartments. This building also comprises 13 garages, four of which are under the flats. The access is easy, into a small cobbled and private , and each are approximately 15m², and in total they provide a monthly income of 703 €uros. The construction is traditional, the walls are stone and the roof is slate. The services (EDF and GDF) are up to standard and new, and there is mains drainage. It is situated close to the centre of Tarbes, and to all amenities (markets, banks, schools), 35 mins from Pau (Ryanair), 1 hour from Spain, and from the lower ski slopes, 1hr 15mins from Toulouse (Easyjet, Flybe, Aer Lingus), 1hr 15mins from Biarritz and the Atlantic beach resorts, and 2hrs 30mins from the Mediterranean.   Basement   Attic   Terrace   Garage   Fireplace   Enclosed garden   Lift   Cellar   Swimming pool   Garden   Mature trees & shrubs   Outbuildings   Stone walls   Traditionally built   Double glazed   Mains services   Habitable   Undulating countryside   Shops nearby (-500m)   Near neighbours (-100m)   Nearest large town (-50km)   School (-5km)   Sea or mountain views   Golf course (-10km) This page has been visited 1845 times. Contact the agency for the ref No.AF04090 Print this page Recommend a property to a friend Calculating your loan Calculating notaire’s fees Have this description translated into your chosen language :             This property has been brought in by agent : Daniel FOURCADE [ Look at 56 our properties ]