Tuesday, 4 August 2015

Serious Investors Only! Bargain Price £900k for a portfolio of 21 Apartments or £200k For A Cluster of Four (14% Gross Yield)

This could be a great opportunity to pick up a ready made portfolio of 21 apartments in Sunderland & South Shields at a knock-down price, or pick them up in 4 units clusters (still at a good price)

The portfolio is split between Riverview Sunderland and The Cove in South Shields

Regular readers of this blog will know that I consider 2 bedroom apartments in Riverview, Low Street to make decent investments that are popular with both working professionals and students 

Purchasing the whole portfolio for £900,000 works out at just under £43k per apartment or £50k if you buy 4 for £200,000

Based on Riverview prices this looks good, given Riverview apartments tend to go for around £65,000 - click here for a link to a blog post from June on this very subject http://www.sunderlandpropertyblog.co.uk/2015/06/at-65000-do-2-bedroom-apartments-in.html 

I've not come across The Cove and we don't deal with South Shields so you'd need to do your own due dilligence on that one, I'm afraid

The selling agent advises that the total gross rental income is £126,120 per year which based on the £900,000 selling price gives a 14% Gross Yield 

Click here for details http://www.zoopla.co.uk/for-sale/details/37680163?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#ApRIkiyEF3lijAcf.97

Call me if you'd like to discuss this opportunity or for any aspect of property investment in Sunderland - call 0191 567 8577 or email neil.whitfield@belvoirlettings.com

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