Its its in decent all round condition , located on the seventh floor and is in fact an ex-local authority flat. Its typically generous in overall size as most of the local authority flats of this period are, coming in at 455 square feet. The only thing that you need do here is update the kitchen and for a flat of this quality, an extra £10k inclusive of all costs is good enough.
Location is pretty handy being close to The Heath and Belsize Park Tube making this a popular choice for tenants. Not sure about the legals here as regards the lease length , though that a question for the selling agent.
Lets look at some numbers; realistically, this flat will achieve £325 per week or just a over £1400 per calendar month in rent and with my suggestion of the new kitchen on top of the asking price of £395,000 that gives you a net yield of 4%. You may also need a good broker on this to get you the right mortgage product for this type of investment. If your goal is long term then this place will give a good return, this part of NW3 is on the rise with lots of development going on in the vicinity that is bolstering the values of existing property. Returns in this pocket over the past decade have averaged 100% .
By the way its been on the market a little while, vendor might be up for a haggle..................
for sale through our friends at Foxtons just a few doors down for £375,000
Fancy a chat about the local market and where to invest next? give us a tinkle on 020 7435 0420 , or pop in to the office on Heath Street.
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.
Don't forget to visit the links below to view back dated deals and Hampstead Property News.
No comments:
Post a Comment