Friday, 30 October 2015

2nd Floor City Side Echo 24 Apartment (9.4% Gross Yield)

This Echo 24 two bedroom apartment has just come onto the market at £83k and for an experienced Echo 24 investor it may be a worthwhile addition to the portfolio


I'd advise caution for any investors who aren't experienced in renting out to International Students in Echo 24 or similar developments, as whilst there are undoubtedly many benefits (such as the cashflow boost from 6 or 12 months rent being paid upfront) there are also many pitfalls, such as the eye-watering service charges and the potential need to spend £1000's to bring the properties back to a lettable standard, should you get International Students who can't take care of themselves or the property

Being a city side, lower floor apartment with an ensuite I'd work on getting £650pcm, which based on paying £83,000 will return 9.4% Gross Yield 


Clearly the prices these are going for now (the last 3 sold for between £78k and £85k) are nearly half the original £180k or more purchase prices but it is worth noting a very gradual upward trend, as previously we know a number were snapped up last year for between £75 and £80k, so very gradual capital growth may be achievable in the long term

Click here for details http://www.rightmove.co.uk/property-for-sale/property-51959281.html

I'll repeat the advice from above & from recent similar posts that unless you know Echo 24 and all that it entails I'd look elsewhere

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

No comments:

Post a comment