Friday, 1 May 2015

'Needs Work' 2 Bedroom, 2 Reception Room Redhouse End Terrace (6.7% Gross Yield)

One of our current landlords only looks to the Redhouse area when he's looking to add to his portfolio and there's good reason for this, properties here tend to attract good working tenants from the local area who tend to stay long term


It's likely that this 2 bedroom, 2 reception room terrace will need a full refurb throughout but once complete it will be popular with couples or young families

Worryingly there are no photos of the kitchen and bathroom, and even the selling agent admits it needs modernisation so it's wise to work on a worst case scenario that they are both dated and will need replacement

Adding a generous £15,000 refurbishment budget onto the OIRO price of £69,950 will give a total investment of £85k and this will return 6.7% Gross Yield based on £475pcm rent


Click here for details https://www.onthemarket.com/details/1445238

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

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