Thursday, 4 June 2015

Cheap 1 Bedroom First Floor Flat Close to Doxford International (8.7% Gross Yield or Even Better...8%-ish with GCH)

This is a tidy looking 1 bedroom flat in Lofthill (SR3) near Moorside, which means it's near to the Doxford International business park that's home to EDF, Barclays, Royal & Sun Alliance & More>Than

All this means that you're likely to have no trouble attracting young professional tenants looking to live walking distance to work

This flat looks to be in a decent condition (with a stylish & modern kitchen and bathroom) that is "Ready to Let"

You'll get £400pcm which based on the OIRO price of £54,950 will deliver 8.7% Gross Yield

But I don't suggest you do that...

It's only got electric storage heating which is a major turn-off for some tenants so it would be far better in the long run to connect up the gas supply (if I'm not mistaken, looking at the picture the top and bottom floor flats have already done this, the first floor one hasn't) and install Gas Central Heating

This will mean some additional decoration and flooring costs but in the long run it will pay dividends - we do find that tenants don't stay as long in flats with electric heating, typically leaving after they've shivvered through one winter (they tend to give notice shortly after receiving their massive quarterly electricity bill!)


Click here for details https://www.onthemarket.com/details/1582465

Call me on 0191 567 8577 or email neil.whitfield@belvoirlettings.com to chat about this investment opportunity or any aspect of property investment in Sunderland

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