Are you looking to invest in buy to let in Northampton but not sure where to start? Well this could prove a quick and easy start off for you as this property is being sold with a tenant in situ…
It’s a one bedroom ground floor maisonette situated at the end of a quiet cul-de-sac in the popular residential area of Little Billing. The accommodation comprises an entrance hall, lounge/diner, kitchen, one double bedroom and a bathroom. Outside there is an allocated parking space and a communal lawned garden to the side.
Richard Greener has listed it for sale for £89,950 and they have stated the property is currently let on an Assured Shorthold Tenancy at a rent of £460 per calendar month.
So if we work out your potential return on the investment based on these figures, you would see an annual yield of 6.1%.
As this is a leasehold property however you would need to consider the terms of the Lease. Which are detailed on the advert as being offered for sale with the a 99 year lease but it doesn’t say when it commenced, so make sure you check this out and the current service charge is £923 per annum with a ground rent of £74 per annum.
Buying a property with a tenant in situ should be fairly straight forward, but if you want to find out more, please feel free to give myself a call to discuss further on 01604 607080.