Wednesday, 14 October 2015

4 Bedroom Ashbrooke End Terrace - Possible Workers Multi Let (11.9% - 13.8% Gross Yield)

This 4 bedroom Ashbrooke property has been rented out as a student let in recent years but it's now on the market for sale at £109,950 which makes it too expensive to work as a single family let but could work if rented on a room-by-room basis

It will need a full refurb throughout to bring it to a good standard that will attract decent working tenants but once done, given it's only a very short distance from the City Centre and Park Lane bus & Metro stations it will appeal to under 30's working in the City's shops, bars and restaurants or those needing public transport to travel further afield

The average room rent in Sunderland is £324pcm (£75 per week) according to easyroommate.co.uk who publish such figures on a monthly basis (interestingly the above is down 5.6% on last year)

It has two reception rooms (one of which could be used as a bedroom), three double bedrooms and a single room (which I'd discount from our calculations)


Based on renting 4 rooms at the above rate and based on a total investment of £130,000 it will return 11.9% Gross Yield - reconfigure the property to bring a 5th double bedroom into play and it could return £1,620pcm which based on a slightly higher investment of £140,000 would return 13.8% Gross Yield

Click here for details http://www.rightmove.co.uk/property-for-sale/property-55364174.html

Call me on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information about this, renting on a room-by-room basis or any aspect of property investment in Sunderland

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