just having a good look through the offerings in the local market to see if there is a good buy- to- let option and this one caught my eye.It's a self-contained second floor studio flat on Belsize Grove, a stones throw form the tube and local shops.
The flat is owned by a Housing Association and is being offered for sale by auction through our neighbours Savills.The lease has been sorted out with 125 years remaining,though its in need of modernisation with a guide price of £240,000.Incidentally, a comparable flat was sold in the same building last year that had been refurbished to a high standard for £299,950.
Based on these figures it should give you an idea of the value once modernised.Presented to the same standard as the neighbouring flat expected rent will be £1215 per calender month, giving you a gross annual yield of 5.1%,demand for this type of property is always high.The auction is to be held on May 11th,though you can view before it goes to the room,full details as below.
http://www.rightmove.co.uk/property-for-sale/property-49636000.html
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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