Happy Friday Everyone,
This morning I have an exciting potential investment opportunity for you. I have a two bedroom apartment with tenant in situ available with Jackson Grundy, lets see what the agents have to say about the property:
Jackson Grundy welcome to the market this investment opportunity with a 7% yield. Currently with a tenant in situ and consisting of kitchen, bathroom, living room and separate bedroom via an archway. Call 01604 633122 for further information. EPC:
Important information to take into consideration on a leasehold property is the terms of lease, length of lease and of course the service charges and ground rent, below is some information available on the advert, provided by the selling agents:
Rent: £475 per month
Ground rent: £50 per year
Service charges: £760 per year
Further information is available by contacting the agents directly to discuss further.
This property is available to the market for as little as £72,000 which is a deal were looking into as you do not come across many properties in Northampton at this value. The property already has a tenant is situ, so this could be the perfect investment opportunity to purchase an already renting property. The property is renting comfortable for £475 pcm, and with a purchase price of £72,000 this means a yield as high of 7.9% is already being achieve from the moment you receive the keys!
Looking at the photos this property could use some improvements which could:
- Improve the value of the property with some refurbishments lifting the value of it
- The amount of rent you can request after improvements made to the property could increase as it would become a more attractive and desired home to live in – this potentially increasing the achievable yield.
Buying a rental property with a tenant in situ can be a very smart and healthy investment as long as you have a capable and professional letting agent at hand to sort out the new tenants agreements when the property is transferred into your name. That is where Northwood Northampton Limited would be happy to help, just give us a call on 01604 607080.
For further information on the property, please use the link below for you: https://www.rightmove.co.uk/property-for-sale/property-56548890.html