This morning I've come across this flat that could turn out to be a gem of an investment opportunity...... Its located in a popular pocket of the NW3 area that is largely rental investment property as the location is ideal for tenants. Situated on Adelaide Road, this two bedroom ex-local authority flat is just a stones throw from the tube at Chalk Farm, Primrose Hill Village and trendy Camden.
The flat is in need of modernization, i don't see many images in the details which would suggest that the place is going to need a complete renovation. For a two bedroom ex - local authority flat , despite its favourable location, one needs to be mindful on what is spent on renovations and I would suggest that £20k is the limit and should be sufficient to bring it up to the expected standard for this local market. Its a leasehold, though check out how many years remain on the lease , plus the service charge, in case of mortgageability issues and any large bills that are waiting to be paid...........
So lets do some numbers. All things considered, expect a rent of £1841.67 per month and I've factored in the renovations and other costs , giving you a net yield of 3.91% based on the 500,000 asking price. Its an ideal flat for investment and offered with vacant possession, I'd get that viewing booked and see whats doing.
On the market with Greene and Co in Belsize Park for 500,000
If you fancy a chat about the NW3 property market and advice and opinion about where to and where not to invest in the local area , then give me a call on 020 7435 0420 or drop me a line 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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