£125,000
Fir Tree Avenue
- 0 beds
£125,000
- 0 beds
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Pure Investor brings to the market this three-bedroom semi-detached property in Oldham. There is currently a long term tenant in situ who is paying £650pcm. The property does have a short lease remaining however this is reflected in the price. The current owner has stated he would be happy to start the process of having this extended, but the price would have to be edited as a result.
The property could be modernised throughout however it sits on a large plot and offers a lot of property for the price. Fantastic future rental yields would be achievable for this property with similar properties renting for around £900pcm +.
Investment Information
- Asking price: £125,000 (cash ideally)
- Current rental income £650pcm (£7,800 per annum).
- Expected rental income was modernised: £900pcm + ( £10,800 per annum).
- Current yield: 6.24%.
- Expected yield: 8.64%.
- Long-term tenants on a rolling contract.
- Tenure: Leasehold (52 years remaining).
- The lease extension would be done via the local council.
Recent sales within a quarter-mile radius - https://www.rightmove.co.uk/best-price-guide-report/ff49cddb-0a8c-4abd-9fb1-9635f0f89f85
Recent rentals within 1⁄2 mile radius - https://www.rightmove.co.uk/best-price-guide-report/f6073503-f9f7-42d5-848c-30a69236ebfa
Rentals above are for terraced properties, so we would expect a higher return for a 3-bedroom semi-detached property.
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