Porterbrook 2, Sheffield S11 with 7.3% Yield
Are you a buy to let investor? Are you looking for a quick and easy let? Are you looking for a good return on your investment?
If the answer is yes to the above three questions, then look no further than this one bedroom apartment that has just been advertised on Pomona Street, just off Ecclesall Road.
This is in a rental hotspot in Sheffield and is therefore in high demand from tenants across the board, from students to professionals, and would be rented in a matter of days should someone buy this property and advertise on the rental market.
Inclusive of parking, rents in excess of Â£600 per month would be achievable, with the possibility of Â£640 if advertised for rent in the peak rental period of Summer. This would result in an impressive yield of 7.3%.
You may think the monthly rent seems ambitious but it isnâ€™t and I will explain; parking is difficult to come by in this area so, even if you have tenants that donâ€™t require parking, this can be rented out at a monthly cost of around Â£70, therefore bringing the monthly rent up to the Â£640 quoted above.
There appears to be no work required whatsoever to be able to rent out this property so there would be no initial concerns over maintaining this apartment. The only real requirement would be to offer the property to let on a furnished basis, but this may be able to be negotiated in the agreed sale price as the furniture also looks to be of a high quality.