7.2% Yield from an Apartment in Southbridge Northampton

Happy Bank Holiday to you all! I know it’s a bank holiday but I thought I’d share this bargain of buy with you all…
It’s on the market with WH Brown for £100,000, so a steal in today’s market.  With regards to rental potential, I would suggest a rental price of between £600.00 and £650.00, but looking at the photographs there is a little bit of work to be done.  It looks as though the carpets will need a deep clean –may need replacing, also the bathroom wall looks heavily damaged, so this will need repairing and probably a repaint.

So you could be looking at a potential annual return of 7.2%, this is of course not taking into account any costs for the service charges or ground rent that may be due. I have given WH Brown a call to find out about the cost of the service charges and ground rents and they have informed me they are waiting for confirmation on exact prices from the lease pack, but say it’s around £90.00 per month for both, so approx. £1000 a year – you should always look into this before jumping into any investment.

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