This week I thought I would select a current property for sale that would make an ideal investment opportunity and I was surprised to see this traditional 3 bed bay fronted semi-detached house on the market for a very reasonable £135,000. Yes no service charges, a large garden, 3 reasonably sized bedrooms, a good sized Living Room and a good sized Kitchen/Dining room. You might pay a bit less for a good 2 bedroom apartment, but you will not get this space.
This 1930’s property has recently been renovated to what would seem from the photographs to be a good standard and is ideally located for access to the M1 and L&D hospital.
In May this year a 1930’s 2 double bedroom terraced property on the same road not a stone’s throw away sold for £145,000. Looking back at the historic prices a similar 3 bed 1930’s semi-detached property within the same postcode sold in July 2006 for £143,000.
This makes it an ideal investment property and a good quality property such as this can be expected to rent easily for £800- £850pcm to a family and that would give you a 7 – 7.5% base rental yield. Also to bear in mind that the owners are looking for a quick sale so are selling below market value meaning there is scope for good capital yield also.
If you are thinking of purchasing an investment property and would like to discuss points such as these to help in your decision, please call or visit our shop where we are only too happy to help.
