The flat itself is pretty well appointed and although ex-local authority property is not every one's cup of tea (due to the stigma attached to them) for a prime area such as Hampstead, they are great value for money. This flat could do with a bit of cheering up and i would suggest that around 15k is spent to install new kitchen and bathroom, re decorate and new carpets in the bedrooms. There is also a balcony off the living room with attractive views on offer.
Based on the asking price plus the 15k or so on improvements, the rent you can expect will be £2045 per calendar month to give you a 4.1% yield. Capital gain here is pretty good too,to give you an idea the last sale of this flat was back in 2008 for £280k. Incidentally, the multi storey car park that is opposite this block has just been acquired for residential investment which will bolster the values of existing property in this location.
On the market with Felicity J Lord, click on the link below for full details.
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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