3 Bedrooms / 1 Bathrooms / 2 Reception
Buyers Choice Plymouth are delighted to present this fantastic investment opportunity!
This wonderful first floor apartment contains 2 large double bedrooms, 1 medium bedroom, a modern shower room, new kitchen and spacious living area. This property is currently occupied by 3 students, and we will be looking to re-list for the next academic year soon, at a gross total rental of £14,500 per annum.
The sale of this property comes with a 1/3 share of the freehold of the building, and the apartment currently has 115 years remaining on its lease. This apartment shares its communal hallway with another one other apartment. We are pleased to show the finished product of the extensive hallway revamp in the photos.
The figures :
Purchase Price - £150,000.00
Annual Rental Income - £14,500
Forecasted expenditure (inc commission, utility allowance, yearly maintenance and summer works) - £4456.00
Projected gross yield at 150k = 9.6%
Projected net yield at 150k = 6.7%
Return on Investment :
@ 75% LTV - £112,500.00 borrowed
@ 4% interest only - £4,500.00 in annual payments
Total property running costs per annum - £4456.00
Total mortgage running costs per annum - £4500.00
Projected net return on investment at these figures = 14.76 %
The measurements :
Entrance Hall -
Kitchen – 4.18m x 2.28m
Lounge - 5.04m x 4.5m
Bathroom - 1.69m x 2.26m
Bedroom 1 - 2.6m x 3.56m
Bedroom 2 - 2.43m x 2.77m
Bedroom 3 - 2.33m x 3.7m
These particulars are intended to give a fair description of the property but their accuracy cannot be guaranteed, and they do not constitute an offer of contract. Prospective tenants must rely on their own inspection of the property. Digital images cannot be guaranteed as they intend to give a fair rendering of the property and are subject to change in the development process.