… Just come across this apartment on Rightmove, on the market with Beresfords for £167,500, in prime renter territory! It’s not in bad condition, although the tiles in the bathroom are an acquired taste!
This block of flats is located within central Chelmsford, ideal for commuting tenants, who can roll out of bed 5 mins before they need to get to the station. the 1 bed apartments in this area rent in the region of £750 pcm as they also benefit from having allocated parking.
If we do our sums based on these figures, you are looking at an annual gross yield of 5.3%, which for a city centre flat is pretty good.
We had a couple come into our office last wee looking to invest in a buy to let property, they’d been left some money and wanted to put it somewhere where it will grow, (more than in the bank). We have managed to help them buy a 1 bed apartment just off Broomfield Road, which will gross them 5.4% on their investment, without even taking into account capital gains!
I’m happy to help answer any questions about the property market in Chelmsford, if you would like to take advantage of this, pop in and see me in our office on Duke Street.