Nearly at the end of another week and I’ve spotted this apartment, which I thought would round things off nicely.
It’s a modern block of apartments and the property is very nicely presented, the person living there has certainly loved it and looked after it. If you bought it, you certainly wouldn’t need to do any work to it.
This property is on the market for £180,000, which is very comparable to other similar properties for sale in the City centre, it also has the added bonus of having allocated parking, which is like gold dust!
Similar properties to this have rented for around £800 – £850 pcm. Even if you base your calculations on the lower figure to play safe, you could be looking at a potential gross yield of 5.3% per year. At the moment, the letting market is off the charts with activity again due to lack of property, so most properties are getting the higher end of their price brackets, so if you did achieve the £850 rent, this would give you an annual yield of 5.6%
If you have any questions about investing in Chelmsford, feel free to give me a call or drop me an e-mail
