An affordable one bedroom apartment for the first time investor
Here is another recent affordable purchase that would have suited a first time buyer or investor.
This one bedroom apartment is located on Tennyson Avenue in the popular Houghton Hamlets area and came with an allocated parking space. Tennyson Avenue has a mix of small apartment blocks and good quality housing with easy access to the M1.
This 1 bedroom apartment which was built in 1988 sold in March 2013 for £79,000. It was previously purchased in June 2007 for £97,000 and in February 2001 for £43,000.
As a Landlord or investor you will be interested in the rental figures. In June 2012 a similar 1 bed apartment in the same development was let for £495 pcm which would give you a base rental yield of 7.5%. Bearing in mind the current market conditions and demand for good quality apartments you could expect to achieve a rent on this property of £525 pcm giving you almost 8% base rental yield.
The base rental yield does not include Ground rent and service costs which are unique to each development.
If you are thinking of purchasing an investment property and would like some free and impartial advice please call or visit our shop where we are only too happy to help.
