Tuesday 15 July 2014

Investment Property close to Chelmsford City Centre

There are quite a lot of interesting buy-to-let properties on the market at the moment and I thought that I should bring this one to your attention as the yield potential is pretty good. 

It's a studio apartment, only a few years old, so still in very good condition, on the market with Elwell Taylor for £115,000. We rented a similar property in the same block for £600 pcm and had people fighting over it. Based on these figures you are looking at a yield of 6.2%

One thing to bear in mind if you are considering buying a studio apartment for your investment property, is that tenants on average don't tend to stay for overly long periods of time. You would get at least a year, maybe 18 months, but after this they will probably look to move on due to out-growing the space. Just something to be aware of.

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