Monday 17 August 2015

1 bed apartment in Chelmsford, could be a little Buy To Let Gem!

Good morning, was having a little look through the websites this morning and came across this property. It says that it is available only for an investment buyer, which leads me to believe that it is being sold with a tenant in place, however there are no details about this in the description. Would be worth making a call to the agent to see what the deal is there.

These little apartment are good for rental purposes, they always Let easily when they come to market, and if the opportunity is there to buy a ready made buy to let property, with a tenant in situ, it makes sense. Of course at the moment you need to honor the rental amount that is being paid by the tenant in the property, which I imagine would be in the area of £650 - £675 pcm, going by what others have rented in the block for in the past. Even if you go by the lowest rental figure and compare it to the asking price of £154,000, you are still looking at a potential annual yield of just over 5%, whichis pretty good. Any higher rent than this and of course if you manage to buy it for slightly less, it could be even better!

IF you would like any advice on buying a property for Let, feel free to give me a call 01245 330500

1 comment :

  1. I read your articles and after reading it I fell that it’s very attractive offer. Thank your share it.

    calgary new condos for sale