I hope everyone had a lovely weekend…?
I've been looking through the property portals this morning to have
a look at what has come to the market over the weekend to see what might be of
interest for you buy to let people out there, and this one caught my eye.
It's a great one bed apartment in Abington, with good
access to the town centre and offered for sale with no upward chain. Judging by
the pictures, you may need to invest in a little bit of time and money towards decorating
and modernising, but nothing that is going to break the bank necessarily.
Howkins and Harrison have listed it for sale for £89,000 and
they have also detailed the lease terms which is very handy for you working out
your returns:
Lease Details - 999 year lease from 1990.
Service charge - £555 per annum, payable quarterly.
Ground Rent - n/a. The management company own the freehold.
Service charge - £555 per annum, payable quarterly.
Ground Rent - n/a. The management company own the freehold.
An apartment of this size and in this location, should easily
rent between £500.00 - £550.00pcm (depending on the modernisation). Therefore
you could be looking at a potential gross annual yield before costs of 6.7% - 7.4%!
Why not check out the link for more information:
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