** INVESTMENT OPPORTUNITY** Belvoir are pleased to offer for sale this BUY TO LET opportunity with long term tenant in situ. This TWO BEDROOM APARTMENT is located close to the CITY CENTRE and is being offered with NO FORWARD CHAIN.
Fitted carpet with door leading to;
Fitted carpet, duel aspect windows and door leading to;
Fitted kitchen with a matching range of base and eye level units with worktop space over, 1 1/2 stainless steel sink, free standing electric cooker, plumbing for washing machine and space for fridge. Window to side aspect.
Double bedroom with window to rear aspect, fitted carpet.
Single bedroom with window to rear aspect, fitted carpet.
Fitted with a three piece suite comprising of wash hand basin, low level WC and panelled bath.
Communal off road parking, and a communal green.
The vendor has informed us that there is 94 years remaining on the lease.
The vendor has informed us that the service charge payable is £1,000 per annum and the ground rent payable is £250 per annum
Based on a sale at £95k and potential rental income of £575 pcm (please note that these figures are an illustration based on an average buy to let mortgage and deposit and actual costs may vary)
- 75% loan assuming standard BTL loan at 2.79% (interest only)
- Capital used £27,950 (including deposit, stamp duty and conveyance)
- Annual pre tax profit of £2,106 = 7.54 % pre tax income on capital used (these assumptions include a maintenance estimate and service and ground rent estimates)
- Gross yield 6.96%
THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER BELVOIR PETERBOROUGH NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.