Although we are in the seasonal shift for the industry with Christmas fast approaching, the local market still has some worthwhile opportunities to consider. Trawling through to see what has recently come up, i 'd like to talk about this 1 bedroom in an ex-local authority block located on the 7th floor.
Palgrave House is in a handy location for Hampstead Heath, local shops, mainline station and the tube at Belsize Park. The flat has decent proportions throughout and has the added benefit of a balcony to enjoy those views from. In the details it mentions the place could do with modernisation, looking at the images I'd suggest a brand new kitchen with appliances and a coat of paint. This will set you back another £10,000 however.
Lets look at the numbers; based on the asking price plus improvements, this flat will achieve £1430 per calendar month, giving you a net yield of 4.15%- not bad considering you've got to go to some trouble and expense to cheer the place up. This flat is good value for the area and the tenants who don't have the typical budget for a good quality 1 bedroom in NW3 (average £1650 per month) will think so too. Location is great, with lots of good amenities and you get outside space and good views.
Like most investors who are looking for a decent yield and long term capital growth, this flat will tick the boxes- by the way , you may be interested to know that a new development is being built further up the road- good news really, as this only helps to bolster the values of the existing properties- well worth a look.
On the market with our friends Martyn Gerrard in Kentish Town with an asking price of £385,000 - long leasehold
Are you thinking of investing in the NW3 area ? or simply would like to know more about buy to let and the local lettings market - pop in to the office for a chat over tea or coffee- I'm based on Heath Street, just 50 meters from Hampstead tube.
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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