March 12, 2020
Incredible Buy-To-Let Opportunity In Need of Total Refurbishment
An incredible buy to let opportunity on has arisen on Mayfield Grove, Gorton. Refurbishment is required, however even with the costs of works factored in we would estimate a yield well over 7%!
Currently a 3 bed property, this mid-terrace is in need of total renovation. As the property currently has a small bathroom and small third bedroom, we would recommend knocking through these two rooms to create a larger bathroom, which would still leave you with two double bedrooms. As a larger style terrace the property also boasts two receptions rooms and a separate kitchen.
Once finished to a high standard, we would expect the property to fetch a tidy £650 per month in rent. We anticipate that £20,000 of works need doing to the property, so if bought at the guide price of £85,000 you would be looking at a net yield of 7.43% once everything is completed.
If you are interested in finding out more, head to Rightmove to check out the profile which is listed with Your Move: https://www.rightmove.co.uk/property-for-sale/property-77859682.html
If you wish to have a chat about this property, or other that you have seen, please call us on 0161 474 8660.
Author: Ellie Finch, Lettings Negotiator