2 pictures
Flat
·
for sale
£ 90,000
flat for sale
Paddington Warrington
· Flat
· Garden
Paddington Warrington · Flat · Garden
INVESTMENT FIGURES Current rent: 765 pcm (9,180 p.a.) Service charge: 135 pcm (1,616 p.a.) Ground rent: 150 p.a. Net annual income: 7,414 Gross yield: 10.2% Net yield: 8.23% The property is let with tenants in situ and a clean arrears record meaning income begins from day one of ownership. POTENTIAL RENTAL INCREASE The current rent of 765pcm sits below the prevailing market rate for the development, where comparable two-bedroom apartments are actively achieving 825925pcm. At the next tenancy renewal, there is a realistic opportunity to increase income by 60160pcm without any capital expenditure pushing the gross yield toward 1112%. Additionally, a service charge review is scheduled for 1 June, which may result in a reduction and further improve net returns. PROPERTY INFORMATION Apartment 37 is a well-presented two-bedroom apartment within Cantilever Gardens, a popular private gated development of 70 modern apartments set along the Manchester Ship Canal. The complex benefits from: Elect
INVESTMENT FIGURES Current rent: 765 pcm (9,180 p.a.) Service charge: 135 pcm (1,616 p.a.) Ground rent: 150 p.a. Net annual income: 7,414 Gross yield: 10.2% Net yield: 8.23% The property is let with tenants in situ and a clean arrears record meaning income begins from day one of ownership. POTENTIAL RENTAL INCREASE The current rent of 765pcm sits below the prevailing market rate for the development, where comparable two-bedroom apartments are actively achieving 825925pcm. At the next tenancy renewal, there is a realistic opportunity to increase income by 60160pcm without any capital expenditure pushing the gross yield toward 1112%. Additionally, a service charge review is scheduled for 1 June, which may result in a reduction and further improve net returns. PROPERTY INFORMATION Apartment 37 is a well-presented two-bedroom apartment within Cantilever Gardens, a popular private gated development of 70 modern apartments set along the Manchester Ship Canal. The complex benefits from: Elect
£ 90,000