Maple Road, Penge, London, SE20

This detached house presents a unique opportunity with its four flats, including one two-bedroom unit and three spacious studio flats, but it comes with significant renovation challenges. The overall condition is dated, with clear signs of wear throughout the living spaces, bedrooms, kitchen, and bathroom. The need for extensive refurbishment is evident, making this a considerable project for any potential buyer.

However, the location in London could be a strong selling point, potentially attracting buyers or renters once the flats are modernised. The asking price of £650,000 equates to £1,008 per square foot, which is notably high compared to the local average of £546 per square foot. This price places the opportunity at a disadvantage in terms of value, especially when considering the all-in costs, including the renovation budget that could range from £100,000 to £200,000. With these factors in mind, this property is better suited for those looking for a heavy project with a clear vision for revitalisation, rather than a quick turnaround or cosmetic refresh.