Hello Investors, I have another amazing investment property for you this week with a yield of 7.35%. Just amazing!
Its a huge plot over 4,000 sqft with 2 on site car parks. The property is currently being utilised as 2 large house shares with a total of 16 bedrooms and 13 bathrooms. I believe that out of this development you would be able to achieve 10-12 1 bedroom apartments which would each rent for approx. £600 per calendar month to good tenants (working professionals) if finished to a high standard, with modern kitchens and the inclusion of white goods. This would bring in a return of £6000 to £7200 per calendar month which is £72,000 to £86,400 per annum.
The property is on the market with MBRE for £1 million and the works would cost around £70,000 to £100,000 which, taking into consideration the rental prices, would achieve you a fantastic yield of 7.35% but also in doing this it would significantly increase the resale value.
For more information on this property or for more information on buy-to-let deals in Stockport, please do not hesitate to give me a call on 0161 474 8668.
Link to Property Online: https://www.rightmove.co.uk/property-for-sale/property-77250653.html