1 Bed apartment in Chelmsford with 5.5% yield...

Good morning, I came across this property this morning and wanted to put it out there. This could prove to be a good little buy to let property. The location is pretty good, just off New London Road, near the Miami roundabout end, it's a 1 bedroom apartment and has just been listed with an asking price of £140,000. I'm not sure on what it's like inside though as there are no photos, so definitely need to get a viewing to assess the condition. It could need to be updated slightly. 
http://www.rightmove.co.uk/property-for-sale/property-50947510.html

Once it is ready for letting, you could be looking at around the £650 mark per month, so before service charges and ground rents you are looking at a potential return of 5.5% per year. 

If you would like to know about lettings services, feel free to give me a call 01245 330500