This looks like a great deal for an investor who doesn't want to do any work, nicely presented 2 bedroom duplex apartment in the popular Melbourne Mills development close to the town centre. It's got private secure parking and I know flats in this development are always popular when they come up for rent so I would anticipate it will rent quickly and have minimal voids.
It's now on the market for £84,950 having just been reduced from £89,950 and is being marketed by two agents so I would therefore assume they are wanting a quick sale. It should rent for £575 pcm which would give a very healthy 8.1% return. There is an annual service charge to take into account though which is £941.85 per annum, but even taking that into account it's still likely to be a 7% return which most landlords I know would still be happy with.
Its on with WH Brown and YourMove - here is the rightmove link: Melbourne Street 2 bedroom flat
If you want to discuss this or any other property investment you are considering, feel free to get in touch on 0113 436 4360 orclaire@openhousemorley.co.uk, I’m always happy to talk property!
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