Atlantic One, Sheffield S3 with 6.55% Return
A very well presented one bedroom apartment in a popular central development has been listed for sale at an attractive price.
Most apartments in Atlantic One are rented, but given the high quality furniture, I believe this property has been owner occupied. Properties that have been owner occupied are often in a better condition compared to when a property has had tenants in. This certainly seems to be the case here.
I believe this property could achieve a rent of Â£600pcm, which means that if purchased at asking price, the yield would be 6.55%.
The majority of tenants in Atlantic One are students, a lot of which are from overseas. Therefore it is essential that this property is available between June and October, which is when students look to move.
Atlantic One is one of the more popular developments in the city centre, however a lot of students do prefer to be closer to West Street.
Â£110,000 is a reasonable asking price, but I feel there may be some negotiation on this. At Â£105,000, I feel this would be a tremendous buy.
Two bedroom apartments in this development achieve a high monthly rent and are not too much higher in sales price so they may be something to consider if and when available.