Tuesday, 1 March 2016

Two Bedroom Tenanted Flat Close to Hospital (8.3% Gross Yield?)

This 2 bedroom tenanted flat is being offered as "an excellent opportunity for buyers who are in a position to purchase quickly" which suggests to me that a cut price deal could be done

The sales particulars don't reveal the rent being paid, which is a pretty big oversight if they're looking to attract investors, but based on our local knowledge of renting similar 2 bed flats on this street I'd suggest they should be getting around £450pcm

The one photo on the listing looks to me like the vendor took it and the fact that there are no internal shots might indicate the tenants aren't keeping it in a great condition, it all suggests to me that the vendor may be a tired Landlord who is looking to get out...or that could just be me being cynical

Based on this and the 'Offers Over' £65k asking price it will return 8.3% Gross Yield but given the above and given that the owner is looking to sell it quickly when tenants are in place suggests that it may be worth a cheeky offer to increase the ROI

It's being offered by SelSimple of Croydon (!?) so get in touch with them to arrange the viewing, which is inevitably going to be conducted by either the vendor or the tenants (I'd go all out to push for the vendor if it was me, so I could speak to them direct to get an understanding of what his/her motivation to sell quickly is...) http://www.zoopla.co.uk/for-sale/details/39573502 

Give me a call on 0191 567 8577 or email neil.whitfield@belvoirlettings.com if you'd like to chat about this or any aspect of the Sunderland property market

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