Good morning everyone, I hope you are enjoying your Bank Holiday weekend. I thought you might be interested in the next property that I have picked out for you, so gave a little look and see what you think.
It’s a 1 bedroom apartment in Durrant Court in Chelmsford, next to Anglia Ruskin university. It’s just come to the market with IPS, with an asking price of £185,000. The building itself used to be the Hoffmans factory which has been converted into flats. Because of this the proportions are quite generous and there are some lovely features. As well as being quite modern, which is appealing to potential tenants, there is also allocated parking, which is quite important to people.
From a rental point of view, you are going to be looking at a monthly rent of circa £800 pcm. So if we get our little yield calculator out, you are looking at a potential annual yield of 5.1%. This figure is before taking into account service charges, so make sure you get that information from the agent so you can factor this into your calculations.
If you would like any more information of just done general advice on buying a property to let, give me a call on 01245 330500.