I’ve spotted this 1 bed apartment come to the market on Redmayne Drive, which is just off New London Road, the only thing I would recommend is done to it, is replace the carpets with a nice neutral flooring, this will make it appeal to a much wider market.
Properties in this area have been renting for £625 for a 1 bed apartment, which when you do the calculations against the asking price of £134,950, could look to generate you a gross yield of 5.5%.
This area is popular for tenants due to the location, not being too far from the city centre and they tend to offer decent sized accommodation.
We are finding at the moment that there is not much property coming to the market, so when anything new comes on, it is going pretty quickly, it’s not just me saying it, the results speak for themselves!
If I were you and I liked this property, I would get down to the selling agent today.
If you would like any advise on investing in property, in Chelmsford, feel free to come into our office on Duke Street
