Condo Flip in Older Commercial Building. Advice Needed!

[Patrick Gleason]

Hi BP, 

A condo has just come up for sale in my area. The town has come a really long way in the past couple years and being 15 mins away from Boston, that helps as well. This condo complex is a 2 minute walk to the commuter rail and a 10 minute walk to the downtown area (train is 25 mins to Boston). The price is right @ $180,000 but I will try to haggle them down a bunch. With comps going anywhere from $240k-$350k (condos closer to $350k are part of 2-3 family homes) this makes the condo even more desirable. Did I mention they have a pool and comes with an extra parking spot? It only needs a new kitchen, new bathroom, and some new flooring.. all very easy since I'm a contractor and the unit is in great shape. Its a 3rd floor unit with an elevator so you don't have to troop up the stairs. 

BUT HERE IS THE KICKER :(

The hallways and rugs (out of my control ) have not been touched in 20 years. The rug is dirty and the hallways are very dimly lit. The elevator is also outdated. Will a potential buyer completely disregard the beautifully remodeled unit because of the hallways and elevator they just had to walk through to get to their unit? Will my sale price be impacted by these hallways and rugs? Has anyone been in a similar situation as this?

Any feedback is greatly appreciated!