March 17, 2020
Refurbished Apartment Boasting over 6% Yield!
Listed For Sale less than a week ago is this newly refurbished one bedroom top floor apartment with an estimated gross annual rental yield of over 6%!
The apartment has just been refurbished, therefore a tenant could move in very quickly with little expense to the future Landlord. It boasts a double bedroom, security entry phone and a very reasonable 442 sq ft, this would rent incredibly well.
Looking at similar properties in the area, I would expect this apartment to achieve at least £575 per calendar month, meaning an annual gross return of nearly £7,000! At the purchase price of £110,000, it would return a gross yield of 6.3%.
There is a ground rent of £23.00 per annum and the current service charge is £51.41 per calendar month, meaning the Net Yield is around 5.7%
The property can be found online HERE.
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