Wadsworth Avenue, Intake, S12 with up to 10% Return
Not the most glamorous apartments by any stretch of imagination, however at first glance very little needs to be done to this property.
The fireplace does look old-fashioned and I feel this does need to be replaced, but apart from this, it doesnâ€™t look as though anything else is required.
Although this property is listed as a one bedroom apartment, it is in fact a studio, which means there is no separate bedroom.Â This would affect the ability to rent this property.Â
One bedroom apartments will rent for between Â£400 – Â£425, but I feel this studio would rent for between Â£350 – Â£375, which would mean a rental yield between 9% and 10%, anything over 7% is considered good.
This area is dominated by working families, you wonâ€™t find many University students in S12.
There are good transport links from S12 into the city centre and the shopping centre Crystal Peaks, making it a popular place to live.
As this property does seem to be a good investment, I feel it will sell quickly and may sell for just over asking price.
For a first time investor this seems an ideal property to start. Considering the low price, the risk is also low, even in the worst case scenario with the property achieving Â£300pcm, you would still be achieving a rental yield of 8%.