The sun is shining and that normally helps to brighten the mood somewhat. Yesterday, I told you about a client of mine who popped in to the office to sign some tenancy documents and we got chatting about the local market
as he was interested in adding another flat to his portfolio. I picked out a flat on Adelaide Road just opposite Chalk Farm Tube.
Just behind the tube there is a very popular development which is known as "The Etons". Purpose built 1930's block with lift, porter and some even have parking. There's a one bedroom flat listed for sale in there that's been on the market for while, since September in fact. Looking around inside, its hard to deny that it could do with a bit of cheering up! However, its got all the makings of a great rental property in terms of location, layout and size, with a bit of vision and creativity, this could be a right little cracker. Flats here normally sell and let in no time at all.
Oliver's have got it listed at £460,000, though its been hanging around for an unusually long time, for an Etons flat, so they are most likely to be open to offers. Despite price being the issue here, let's not confuse that with value. Bottom line; a property is only worth what someone is prepared to pay for it-that is the value. In good condition this flat will rent for £1690 per calender month and if bought at the right level, will give you an annual gross yield of 5.5%.
http://www.zoopla.co.uk/for-sale/details/34660394
If you are looking for an agent with experience that can help you find the right tenant for your property, then contact us to find out how we can get the best out of your investment property. Email me on chris@ashmoreresidential.com or give me a call on 020 7435 0420. Pop in for a chat – we are based on Ashmore Residential, Suite 7, 25-27 Heath Street, London, NW3 6TR. The kettle is always on.
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