Monday, 19 January 2015

'Needs Work' End Terrace in Popular Roker Location (6.3% Gross Yield + Captal Growth Potential)

This end terrace in Moreland St, Roker will be popular due to the location (we know this as we've managed a property in this street for a few years and it's never been hard to find decent tenants)

The sales particulars state it's got 2 bedrooms but looking in more detail there's a downstairs double bedroom at the front and 2 smaller rooms in the eaves (loft conversion), so in my book that makes 3 bedrooms! 

It's all a bit odd, as if planning permission hasn't been given for the loft conversion then surely the 2 upstairs rooms must be discounted so it's only got the 1 downstairs bedroom ...and should be priced accordingly? 

Anyway, it's worth investigating as based on a 3 bedroom rent of £550pcm it will return 6.3% Gross Yield - this is based on the £89,950 asking price plus £15k for improvements (it needs full redecoration & flooring and a new kitchen and bathroom)

What's more, given the above confusion over the number of rooms (which may mean you can strike a hard bargain), the 'Needs Work' condition and the location there's scope for decent capital growth

Click here for details http://www.zoopla.co.uk/for-sale/details/35688420?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#FThIIuu7MmYp3rym.97 

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

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