August 17, 2016
Gorton Road, Reddish with a potential yield of over 7%
This flat recently came to the market and I thought it would be a good property to feature in this week’s blog please read on to find out why!
People always seem to be put off by the idea of buying a flat above a shop but in my opinion if the price is right and the figures stack up then why wouldn’t you buy one? Admittedly this property has been on the market a while and has done the rounds with a few different agents but you would be hard pushed to find a property right in the centre of Reddish for less than £100,000 and this property is being marketed at £85,000. With a purchase price as low as that you can’t go wrong.
Internally the property looks in good condition and could possibly do with some minor improvements but costs should be minimal. I have recently let similar properties in the area for up to £525 per calendar month which would give you a yield of over 7%. The property is on the market with Reeds Rains 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.