1 Bed Buy to Let, Milton St, Dundee. Gross Yield 7.64%
I do get landlords occasionally who like a bit of a ‘project’, well I think this one qualifies in a small way. http://www.zoopla.co.uk/for-sale/details/39988569?search_identifier=6755f99cbfefd0043120ff15531c9818#JKisAzsSpWy3lzK1.97
According to the schedule from our colleagues a Remax it needs some work, it doesn’t look too bad in the photos and some of the big jobs have already been done.
The location is OK, capital appreciation isn’t stunning but that might be a problem with some of the adjacent streets bringing the average down. I think that given a bit of a ‘make over’ it would be fine.
Obviously there is limited information available on the schedule but one thing is it doesn’t mention heating at all and the EPC is E. So I would bank on having to address that and being an attic flat I would want a professional to look at the roof.
Even if you paid the full asking price of £52,500 (time for a cheeky offer) and then had to spend say £5,000 on it I don’t it would be too much of a problem. I would assess the gross yield at around £7.64 depending on what you spend.