Wednesday, 5 August 2015

Three Bedroom Next to Sunderland Royal Hospital (7.1% Gross Yield Single Let or 12.2% Gross Yield for Multi Let)

We know this 3 bedroom larger style terrace next to Sunderland Royal Hospital will be popular as we manage a couple of similar properties on this street and are just about to relet one later this month to a family where the mum works full time at the Hospital

It's on the market for 'Offers Over' £89,950 and will need a little work - there's no kitchen photo and it would benefit from redecoration and flooring, so I'd work on a total investment of around £100,000 

It can work as a single family let, getting £595pcm and delivering 7.1% Gross Yield based on a total investment of £100,000

It could also work as a Multi Let with 3 lettable double bedrooms using one of the ground floor reception rooms as a bedroom

This will require work to reinstate a partition between the open plan 2 reception rooms and is based on forgoing the smaller upstairs bedroom (using it for storage or a study)

Based on a 3 room Multi Let at £90 per room per week would return £1,170 per month but to do so will require additional spend to redecorate and furnish to a high standard, so you should work on the total investment increasing to around £115,000

Even so this would deliver 12.2% Gross Yield


Click here for details http://www.rightmove.co.uk/property-for-sale/property-39431233.html?utm_content=v2-ealertspropertyimage&utm_medium=email&utm_source=emailupdates&utm_campaign=emailupdates1day&utm_term=buying&sc_id=10668247&onetime_FromEmail=true

Call me on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information on this property, to discuss the 2 potential strategies or for a free, no obligation chat about any aspect of the Sunderland property market

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