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Nil Crede

Flat Purchase/refurbishment Costs?

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I wonder if anyone can estimate the costs of the following.

There may be an opportunity for me to purchase a small block of six 1-bedroom ex-local authority flats in an unsalubrious corner of the North West...

They are boarded-up and may have suffered slight fire or water damage in some parts, but the building and roof seem structurally sound, and imho could be refurbished.

1. Purchase cost/offer. Refurbished and tenanted @£85-90 per week, each flat would fetch at auction around £32.5k, so a block of six might fetch just shy of £200k. What would I offer for the shell as it stands? I'm estimating less than "half-price", but how much less?

2. The flats are very small, around 30 m^2 each. How much for a very basic refurbishment per flat? £5,000?

Any pitfalls to look out for?

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