Here is a nice flat with very good figures that I’m slightly conflicted about. Let me explain.
The property is being marketed at £56,500 by Your Move and is on Gardner St, https://www.zoopla.co.uk/for-sale/details/41930434?search_identifier=61437ca0b5f60b72495ba2f153c33009.
From the photographs, it looks like a very well maintained flat with GCH and DG and certainly the area is fine.
As far as rental potential goes I would say that is should comfortably rent at around £375 per month which gives a gross yield of 7.2%, pretty good. Additionally, the EPC is already a D so the current round of proposed changes in energy efficiency requirements shouldn’t affect it.
My one and only concern and the reason I would want to investigate a bit is the external photo. It shows grass growing out of the guttering and evidence of water running down the front of the building. Whilst that should be relatively easy and inexpensive to sort out, communal repairs are often difficult as it means getting all the owners onside.
So my first (and possibly last) question would be is this already in hand, costs etc. If not then either walk away or accept that there will be some work at a later date.
Other than that I think it’s a lovely investment property.
