Cash Buyers Only! Bargain Basement Seaham 2 Bedroom Terrace (12% Gross Yield)

This 2 bedroom terrace in Seaham is being sold at auction on 14th December with a tempting Guide Price of £26,000 that will get a lot of interest from investors

It does need work prior to letting but it looks to be mostly cosmetic and should be achievable for no more than £5,000

The three most recent sales on this street sold this year for £38,000, £28,250 and £32,000 respectively so assuming you don't get carried away at the auction and spend no more than £40,000 in total (purchase price plus refurb) it will return 12% Gross Yield

This street will attract a mix of both working and non-working tenants but assuming the property is improved to a good standard then attracting a good working tenant shouldn't be an issue

Click here for details http://www.rightmove.co.uk/property-for-sale/property-38015418.html it's being sold by Kimmitt and Roberts at the Agents Property Auction so contact them for details or to arrange a viewing

Call me if you would like to have a chat about this property or investing in Seaham or Sunderland - call 0191 567 8577 or email neil.whitfield@belvoirlettings.com