May 12, 2017
2 Bed flat in south reddish with a potential yield of over 7%
This flat came to the market yesterday and I thought it would be a good property to feature in this week’s blog please read on to find out why!
Investors always seem to be put off by the idea of buying a flat but in my opinion if the price is right and the figures stack up then why wouldn’t you buy one? Admittedly most apartments come with high service charges which can eat in to your profits but no such issues with this one other than a low annual ground rent.
Internally the property looks in good condition and could possibly do with some minor improvements but costs should be minimal. The selling estate agent claims the current rent is £595 per calendar month giving a yield of 7.14%. I personally feel a more realistic price would be £575 per calendar month giving a yield of 6.9%, either way the property should make a sound investment.
The property is on the market with Philip James and the details can be found on Rightmove using this link.
If you would like any further advice on rental investments in the area then please visit our branch in the centre of Reddish or give us a call.