Monday, 13 April 2015

A Pair of 1 Bedroom Flats in Hendon (+11% Gross Yield)

This pair of one bedroom flats are located together and are being sold together

It must be said that this estate (along with the wider Hendon area) has a poor reputation and the estate is a little rough around the edges, with a mix of working and benefit tenants (and probably more of the latter)

That said we've managed a couple of 2 bedroom properties here for the last 12 - 18 months and have attracted working tenants for both, so this opportunity shouldn't be automatically ruled out - although it may not be for everyone

The pair of flats are being sold as a pair for £74,000, they both come with 1 allocated parking space and the ground floor flat has a small open garden area

The estate agent reckons 12% Gross Yield is achievable but I'd be a little more cautious - based on £350pcm rent and paying the above works out at 11.3% Gross Yield (they're clearly basing this on £375pcm which in my opinion is ambitious, knowing what we recently achieved for the 2 bedroom properties)

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Call me on 0191 567 8577 or email for more information

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