I was trawling through the offerings of the local market and spotted this 4 bedroom ex local authority maisonette and thought to put it out there. Looking around inside, this place is in need of refurbishment throughout. I would suggest that you would need to spend around 30k to bring this up to scratch.
This is a great property for sharers or the young professionals who need to be in a certain location and pay reasonable accommodation costs whilst grooming their careers. There is a lot of space on offer here with 4 decent sized bedrooms on offer, two bathrooms, large kitchen /dining room , plus a large balcony. The 30k spend is the tonic needed to make this property attractive and realise its full potential as its in an ex local authority block, therefore it will go someway to reducing the stigma that is normally attached to it. Great location, just a short walk to The Heath with its mainline station, local shops on South End Road and the tube at Belsize Park.
The rent that could be achieved here would be £2385 per calendar month once renovated as where a four bedroom converted flat or purpose built in a privately owned building would be in the region of £3250 per calendar month. Therefore, good value for money in this location both in terms of purchase and rental.With renovation costs included, based on the asking price, net yield is 4.5%
On the market with Get me moved Properties for £569,950, click on the link for full details.
http://www.zoopla.co.uk/for-sale/details/37609719
If you are considering buy to let investment in the NW3 area, i'm happy to give you my opinion on what will make for a good investment, subject to your requirements. Feel free to call the office for an informal chat on 020 7435 0420 or drop me a line with the Rightmove or Zoopla link to chris@ashmoreresidential.com
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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