Friday, 26 June 2015

Large Victorian Terrace Split Into 4 Tenanted Flats - Managed By Belvoir Since 2010 & For Sale By Auction (10.8% Gross Yield)

We've managed the 4 flats that make up this large Victorian terraced house on the Hendon/Ashbrooke border since 2010 and it's been consistently occupied with working tenants

There are 2 good size one bedroom flats (on the ground floor and 1st floor), a small one bedroom flat in the rear extension and a 2 bedroom flat on the top floor

We're getting £300pcm for the small one bedroom flat and £350pcm for the other three, giving a monthly rental return of £1,350pcm (although we have achieved more for the top floor 2 bedroom flat in recent years)

The Auction Guide Price is £150,000 and based on paying this and the current rents the building will return 10.8% Gross Yield but even if there is interest in the room and it sells for £180,000 it will still return a healthy 9% Gross Yield

The 4 flats are in a clean & tidy condition but further investment to improve them internally will increase both their achievable rent & popularity

They're being auctioned on 21st July - click here for details http://www.zoopla.co.uk/for-sale/details/37277821

Call me if you'd like more information on this opportunity or any aspect of the Sunderland property market - call me on 0191 567 8577 or email neil.whitfield@belvoirlettings.com

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