Another affordable one bedroom apartment that was ideal for the first time investor but this time he got 2 !
This one bedroom apartment is located on High Street South in Dunstable and came with an allocated parking space. One of 4 apartments in a building that was converted in about 2009 Its location on High Street South is only a few minutes walk from the main junction.
This clean and tidy 1 bedroom apartment when converted in 2009 when it was marketed at £500 pcm. In 2011 these apartments were again on the market for £525 pcm.
In December 2012 this apartment was for sale for £89,995. A buyer bought this apartment and the one next door for £85,000 each in April 2013.
Again as a Landlord or investor you will be interested in the rental figures. The apartments were marketed at £575 pcm in April this year. If they achieved this figure they would give the buyer a base rental yield of 8%. Even if they dropped to £550 pcm you would still be looking at a base rental yield of 7.7%. The other attraction to these apartments was the lease length which was over 100 years and might have been 120 – 125 years.
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.
