5 bedrooms apartment in Mahon, Balearic Islands, Spain

Based on the given description, the property in question is a pair of apartments located in Mahón, Balearic Islands. The apartments are sold together and are independent from each other. The first floor apartment has two bedrooms, while the second floor apartment has three bedrooms. Both apartments are currently rented with contracts expiring at the end of 2025. Additionally, there is a communal terrace for both apartments. The ground floor is an independent flat with a different owner. From a buyer's perspective, this property offers a few advantages. Firstly, the combined price of 170,000€ for two apartments with a total of five bedrooms is relatively affordable, especially considering the location in Mahón, Balearic Islands. This makes it an attractive option for those looking to invest in real estate or acquire a lifestyle property at a reasonable price. Secondly, the fact that both apartments are currently rented with contracts expiring in 2025 provides a steady income stream for the buyer. This can be particularly appealing to investors looking for a passive income source or those who plan to live in one of the apartments while renting out the other. Thirdly, the communal terrace offers additional living space and the potential for outdoor entertainment. This can enhance the overall appeal and usability of the property, making it more attractive to potential tenants or buyers in the future. However, there are also some potential drawbacks to consider. The ground floor apartment being owned by a different owner may pose challenges in terms of management and coordination of shared spaces or building maintenance. Additionally, the property's location in Mahón may not appeal to everyone, and there could be limited demand for rental properties in the area. In terms of real estate investment, the property's location and the combined price make it a potentially good investment. However, it is essential to conduct thorough market research and consider the potential rental demand and competition in the area. As a lifestyle purchase, the property offers a unique opportunity to own two apartments in the same building, providing flexibility for living arrangements or generating income. The communal terrace and the location in Mahón can also contribute to a desirable lifestyle. However, the potential challenges related to the ground floor apartment and the specific location should be weighed against the potential benefits.