Thursday, 9 July 2015

"Needs Work" 3 Bedroom First Floor Flat in Roker (+8.1% Gross Yield After Renovation)

Following the recent blog post highlighting the higher than average level of tenant demand for properties in SR6 this new instruction in Westburn Terrace, Roker looks worthy of investigation


It's being advertised with no internal pics and by the selling agent's own admission it 'requires general updating and refurbishment' so I'd work on a worst-case scenario of a new kitchen, new bathroom, new flooring and redecoration throughout - £15,000 should do it

Adding this to the OIRO £54,950 asking price will bring the total cost of investment to £69,950

In it's newly decorated, tip-top condition it should be possible to achieve £475 - 495pcm which will return a very healthy 8.1% - 8.5% Gross Yield

Click here for details http://www.rightmove.co.uk/property-for-sale/property-50735071.html


Call me on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information about this opportunity or any aspect of investing in property in Sunderland

No comments:

Post a comment