Today I am bringing you one of the best yields I have found in a long time! The property is currently being sold with a sitting tenant – this is good and bad. Good, as it means no void period and the property will be rented from the moment you purchase it, but bad as there is potential that they have been there a long time and are not paying the right market value for the property.
If I were purchasing this property I would be happy to keep the tenants and then perhaps at the next rental period would look at refurbishing the property, as it does look as though it needs a little TLC. I think for a property like this, in a block like this in Edgeley Town Centre you would be able to achieve £575-£600pcm for this two bedroom apartment. I realise that this sounds very cheap, but the block that this property in will affect the overall rental value that you will be able to achieve. The property is currently on the market at £80,000 and renting it at £575 to £600pcm would give you an incredible yield of 8.63 – 8.92% which is amazing! If you did work on the property this yield would be affected slightly, but in terms of capital growth there is a lot of potential.
If you would like more information on this property, or if you are thinking of investing in the Stockport area, please do not hesitate to contact me on 0161 474 8668 or email email@example.com.