If some you want to get busy any time soon, then here's a project that will get the grey matter working. Its a self contained studio flat located on South Hill Park which is a very pleasant enclave surrounding Hampstead Heath ,the local shops and transport.
The flat is a good size studio coming at around 346 sq feet and it needs complete refurbishment. I'd estimate that with the holding costs this will cost around 25k to bring to the expected standard.
Let's do some sums - Based on the £350k asking price and the added costs it will be a £375 k investment. The rent on this flat will be a realistic £1250 per calendar month and it will give you a net yield of 3.8% . The local market has dipped a little with values having dropped by 4.2% in June, the flat is a project that's best suited to experienced investors and there may be an opportunity for some negotiation on price here. Ultimately, there is an opportunity to create value which is the crucial principle when investing. Check lease length , as its not mentioned, oh and by the way , get this flat looking good and resale values will be knocking on the door of £395k
On the market with our friends Anscome and Ringland
http://www.zoopla.co.uk/for-sale/details/41197933
If you'd like to know where to invest in the NW3 area and how to maximise the income potential on your investment property for the long term, then give me a call for a chat in 020 7435 0420 or pop in to the office for a chat , I'm just in 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.
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