Good morning folks, on my morning travels today, I came across this lovely property. They don’t come up that often in this block as there are not many in there. They are really good sizes though and also the location is ideal!
http://www.rightmove.co.uk/property-for-sale/property-36040803.html
This particular apartment is really nicely presented as well, (although the colour choice in bedroom 2 may not be everyone’s cup of tea), which will appeal to the rental market. Tenants may only be renting, but they still want a lovely home!
The asking price for this property is £225,000 and I would expect to achieve in the region of £900 pcm rent for it, which would potentially generate you an annual yield of 4.8% before any charges etc. Whilst this may not be as high as some of the properties that I have blogged about in the past, it’s not always about the high yields, if it;s a nice area, you are pretty much guaranteed not to have any lasting void periods, which means more secure income! Another thing is also the capital growth, a similar property in this block sold a year ago for £172,000, so if this apartment sells at it’s asking price, potentially, it could have increased in value by 30%! Way above the Chelmsford average of 3%.
If you would like to know more about buying a property to let, feel free to come i for a chat, my office is on Duke Street and my door is always open.
