Ground Floor Moorside Flat (7.7% Gross Yield)

This 2 bedroom ground floor flat in Moorside has just come onto the market and will be popular with tenants working at the nearby Doxford International business park

It's for sale at £69,950 and based on achieving £450pcm rent it will return 7.7% Gross Yield

It's got the original electric heating that came with these properties when built in the 1960's and 70's so it may be worth considering spending more to install gas central heating - this will make it more popular and could result in you being able to command a higher rent (upto £495pcm)

One thing to consider is the length of the remaining lease - we know from other property owners who have flats in Moorside that the remaining lease is getting to around the length that causes mortgage companies to have second thoughts (each lender is different but it's generally considered tricky to get a mortgage if the lease is less than 60 or 70 years)

It's on the market with Peter Heron so click here for details https://www.onthemarket.com/details/2242401 and give them a call for more information or to arrange a viewing

If you'd like to discuss this or any aspect of property investment in Sunderland please give me a call on 0191 567 8577 or email neil.whitfield@belvoirlettings.com