I need advice regarding buying an apartment. The apartment is in a building situated right in front of a hospital. The hospital is across the street. Otherwise, the locality is really good. The building is in a prime location with good access to schools, colleges, public transport, marketplace and other amenities. I want to buy the apartment as a rental property. It also fits nicely in my budget since im getting a good deal. It is basically a Class C building in a Class A locality (on a A-D scale). So my question is whether the property is a good deal considering the close proximity to the hospital??
I'm sure others with more experience will chime in but one thing to keep in mind: if it's a major hospital then you could potentially have quite a bit of noise at all hours of the night. I lived in an apartment next to a hospital for a while. Rents were way cheaper than surrounding areas because of the ambulance/helicopter noise. I kept the windows closed and heavily utilized AC to compensate.
I own a property near a hospital in a c class neighborhood . Some would argue that owning real estate in close proximity to a hospital is ideal because nurses and staff need a place to stay and it’s so close to their work making it a lucrative place to invest . That may be true if the surrounding area is mostly b class but The reality as I see it is a lot of hospitals are in c class areas and let’s face it if your an Lpn or RN making 50-60k+ a year you are probably not going to want to live in an apartment house in a low income neighborhood .