Tuesday, 8 December 2015

Immaculate First Floor Moorside Flat (7.4% Gross Yield)

This 2 bedroom first floor Moorside flat looks to have a lot going for it, it has a stylish new kitchen and shower room/wc, the only downside I can see is that it doesn't look to have GCH

This may be reflected in the £80,000 asking price but that's a potential bargaining tool as in our experience to attract (and crucially retain) tenants you'd need to budget for installing a gas boiler and central heating - in our experience tenants don't tend to stay for 2 winters in one of these if it just has electric heating!

Assuming you can negotiate the cost of this from the £80k price it should be able to achieve the upper end of Moorside flat rents at £495, giving a decent 7.4% Gross Yield

It's being marketed by Your Move so click the link here http://www.rightmove.co.uk/property-for-sale/property-52386484.html for details and call them if you want to arrange a viewing 

We manage a number of similar flats in Moorside and know this particular street very well having managed a similar flat here since 2008

You may be interested in reading my very first blog post from January 2014 which compared Moorside flats with flats in Ashbrooke - clearly the figures aren't up-to-date but they haven't really changed since then therefore the principles still apply Moorside Outperforms Ashbrooke By Almost 40%  

Give me a call if you want to discuss this property, investing in Moorside or any area within Sunderland - call 0191 567 8577 or email neil.whitfield@belvoirlettings.com

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