On the market close to the centre of West Drayton is this one bed flat priced at £137,500. Located above a shop it will never win any awards for good looks but it could be a solid Buy to Let (BTL) investment.
The location is a couple of minutes from West Drayton station so nice and handy for Crossrail coming in 2019. It’s located just off the High Street near to the Wilko store.
Have talked about the pros and cons of owning BTL’s in these locations before but a quick summary is:
Pro’s
- Good space for the money
- Good value for money
Cons
- Parking can sometimes be tricky (although a small garage with this property will help)
- Located nearer to shops and so tend to have a higher crime rate in the immediate locality.
- Take longer to sell and let than property not over.
- Harder to get insurance and less mortgage choice
The Estate Agents believe the property will let for circa £775pcm which is fair enough. At this level the property will have a gross yield of 6.7%.
A couple of these units have sold later last year for £137,000 so they sound to be reasonably priced.
Belvoir Uxbridge don’t sell property, we are lettings specialists, but we do guide people based on our experience as to what might make a good buy to let property investment in the Uxbridge, Hillingdon, Hayes and West Drayton area. We don’t charge for this service but we would like to manage your property or help you find great tenants.
