I’ve spotted this property on Rightmove today, so thought I’d share it with you, for those looking for a bit of a renovation project…
You will see from the link above; it’s a two/three bedroom traditional Victorian terrace family home situated in the popular Poets Corner area. The property is sold with no chain and will need some modernisation and refurbishment. The accommodation comprises hall, lounge/diner, kitchen, utility room and WC to ground floor. Upstairs are two / three bedrooms and a family bathroom. Further benefits include uPVC double glazing and gas radiator heating and a cellar. Externally there is an enclosed rear garden.
Poets Corner, is a hot location for tenants attracting a variety of professional tenants!
Jackson Grundy the selling agent are holding two open days: Saturday 8th July, 9.30am – 11.00am and Saturday 15th July 2.30pm – 4.00pm and have said that interested parties should present their offers in writing, together with evidence of funds to Jackson Grundy Estate Agents, 44 Kingsley Park Terrace, Kingsley, NN2 7HH no later than 10.00 Wednesday 19th July.
So what do the numbers look like; it’s on the market for £160,000 and a refurbished three bedroom property in this area will rent with a price tag of around £900.00 – £950.00 pcm.
You’ll probably spend around £15k on the refurbishment for it to be of a good lettable standard, and would give you a very decent yield of over 6%!
So if this type of project suits you, get in touch with the selling agent and book your self a space on the open day.