Monday 18 May 2015

Is this chelmsford apartment too good to be true?

Good morning, on my routine Rightmove trawling, I spotted this little gem. To me it seems a bit too good to be true. It's a 2 bedroom apartment on 'The Village', located just of Writtle Road. Superb area for buy to let as the properties always Let really quickly on this estate. 

From looking at the photos, it looks as though it needs a little TLC, this could be why the price is so competitive. Balch have put it on the market for £144,950.

Having had a look at other properties on the development, the average price seems to be sitting around £155,000 - £160,000. You could buy it, spend a couple of grand on it to make it look shiny again and end up with instant capital growth!

IT also stacks up really well on the rental yield front as well. Similar properties to this rent easily on the development for around £750 pcm. So you could be looking at a potential annual return of 6.2%, this is of course not taking into account any service charges or ground rent that may be due. You should always look into this before jumping into any investment. 

If you would like to pick my brain about buy to let in Chelmsford, please do pop in to see me, my office is located on Duke Street, in Estate Agent row!

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