Happy Friday all!
I hope your New Year was a good one.
I have a new project for you, an exciting little refurbishment and rental property available. The property is on the market with Belvoir, see what they have to see about it:
“Belvoir offer this well proportioned three bedroom first floor apartment situated a short distance from the town centre, numerous local amenities and the train station.
Accommodation in brief comprises; entrance hall, kitchen, lounge with balcony, shower room and three well proportioned bedrooms. Further benefits include gas central heating and double glazed windows. Viewings are available from 17th September on wards.
The owner advises the below information regarding the property.
125 yrs from 2nd Feb 1987
Quarterly service charge from 01/07/2018 to 30/09/2018 £137.40
Ground Rent £10″
The property is on the market for £124,995, based purely on the photos I would consider a light refurbishment to ensure you can achieve a higher rental figure, I would consider new carpets and maybe a lick of paint, however a viewing before hand is recommended to confirm how much work (if any) is required.
This is a 3 bedroom flat which I feel that a rental figure of £800 pcm could be achieved. Lets say you was to spend £5,000 on refurbishments throughout, that would mean you could be all in for £130,000, so achieving a rental figure of £800 pcm this would mean that a yield of 7.3% could be yours!
If this opportunity captures your attention, why not take a look at the link below to see if you would like to take it further: https://www.rightmove.co.uk/property-for-sale/property-67562620.html