Tuesday, 28 April 2015

'Needs Work' 3 Bedroom Farringdon Semi (7.3% Gross Yield)

This is one of the larger properties in Farringdon, with 3 bedrooms and 2 reception rooms. It needs full refurbishment throughout, and is in desperate need of a new kitchen and bathroom but once this work is complete it will be a popular property

Farringdon has far more 2 bed properties than it does 3 beds, so this should be sought after by family tenants (and a further advantage is that families outgrow 3 bedroom properties far less quickly than they do with a 2 bed property)

I'd allow a minimum of £15k for refurbishment so adding this on top of the £75,000 asking price it will return 7.3% Gross Yield based on the total investment of £90,000 and an achievable monthly rent of £550pcm

Click here for details www.onthemarket.com/details/1447607 

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



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