Are you looking for a ready-made investment? If so, look no further than this two bedroom apartment in Gleadless, S12.
These apartments are set to the rear of a very much sought after estate in a very popular area of Sheffield amongst families and young couples alike. This estate has properties ranging from these two bedroom apartments to five bedroom detached family homes so there is a real community feel around the area.
This particular apartment would achieve a monthly rent of £575 and therefore offers a yield of 6.4% against the asking price. There are then monthly service charges and ground rent to add to this too.
The apartment is ready to move tenants into on the day of completion as the carpets, kitchen and bathroom all look to be perfectly fine and there would be a high demand from tenants looking to move in.
Whilst many apartment such as this one offer a great yield and an easy let, as a purchaser, you must always factor in the costs incurred by service charges and ground rent and not just be drawn in by an impressive yield. Sometimes, with an investment budget somewhere in this region, around £100,000, it’s not always better to purchase a leasehold property. By way of example, you could invest £90,000 into a two bedroom terraced house in some areas and achieve a monthly rent of £550, therefore achieving a yield of 7.3%, without the extra costs incurred too!
There is a lot to think about when looking to buy to let so it’s imperative that you do your research on areas and property types before rushing into buying what you initially think may be best.