This studio flat on Hawthorne Crescent built in the late 80’s is on the market for OIEO £119,000. This property is really for investors as the property is let on an AST until August 2015. I would not be afraid of a sitting tenant but would want to ensure they were a good tenant (rent up to date etc) so that I did not have immediate liability for missing rent and eviction costs. If they won’t I would ask the existing owner to contribute towards these costs.
Demand for studios is good in this area, more so in the summer months than now, but still good at the moment. So keeping you stocked with tenants should not be an issue.
At the asking price of £119,000 and a rent of £650pcm the current yield on this property is 6.5%. Costs of £800pa for service costs are not small so I would want to understand the position of the management company.
Finally the location of the property is good. Walking distance of local Crossrail West Drayton Station with good open cut throughs, so you feel safe when you are walking to the station – not like you are going down an alley. The station is about ten minutes walk away.
As long as this follows through, I am thinking this would be a reasonable start to a buy to let portfolio.
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.
Based on publicly available information a review is not a recommendation to buy, more to share what we are thinking about the property. Talk to us if you want to know more.
