July 18, 2016
Lonsdale Avenue, Reddish with a potential yield of around 6.9%
This property recently came to the market and grabbed my interest so I decided to feature it in today’s blog.
Doer-upper is the first thing that comes to mind with this property and it is going to need a considerable amount of work to be in a “lettable” condition, however this shouldn’t be a problem for any seasoned investors. The property is in a good location for transport links to Stockport and the city centre with bus routes and the train station located just 5 minutes’ walk away.
I would estimate works to cost around £10,000 and assuming you could get the property for £90,000 this would put your total spend at £100,000, With a rental income of £575 per calendar month this would give you a return of 6.9%. The property is on the market with Reeds Rains, click on the below link for more information.
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.