OK so on the face of it this might not be everyone’s cup of tea but before you look away, I think this studio flat could be a great little investment!!
On the market with another agent at £115,000 it’s under the stamp duty threshold, and how often does that happen in London? It also has a solid 98 years left on the lease.
Apparently the flat does need ‘quite a bit of work’ internally so lets put aside a generous £10,000 for complete renovation.
Studio flats on this development rent for £750pcm, so for a total cost of £125,000 you could achieve a very attractive gross yield of 7.2%
Additionally, flats in this block have seen capital growth of 34% in the past 5 years!
All in all I think this flat could be a great little investment and is definitely worth a closer look to see if the figures add up for you.
Belvoir Enfield are lettings specialists and we don’t sell property. This means we can provide impartial advice on what makes a good property investment in Enfield and surrounding areas. We don’t charge for this service but we would be happy to manage your buy to let property or help you find great tenants.
