A one bedroom second floor apartment, Elmsdale Court, Birmingham Road, Walsall, WS1. The asking price is in the region of £64995 with Homepoint of Walsall (01922 312 002).
Check it out here:
Well, well, what do we have here? Another of what I like to call a “Good To Go” property. Already a rental property in its own right and appraised at £425.00 pcm and if sold at the asking price gives “a nice little earner” of a 7.84% yield.
Let’s have a look inside…
Like most properties it has its good sides and it has its bad sides.
Clearly, the property has already been used as a rental and you could take the property as it is and rent it out happily ever after if you so wished. That option of course is only if you don’t wish to spend any more cash on augmenting the property further. However, I always feel that there is room for improvement and in my opinion it does look like it needs cheering up.
So, how do we turn that frown upside down? There’s a good start in the hallway as it already has laminate flooring. but the internal doors are too old school for me and they make the property look dark and aged. The decor in the living area and bedroom need updating unquestionably…Dark Floral wallpaper as a feature wall? Ugh! and the less said about the creme coloured carpet the better.
From what I can see there is no double glazing and the central heating is all electric. But that doesn’t mean it can’t be changed, right? Double glazing is kind of an expectation these days of someone whom is looking to rent, but I would go further and say it is definitely an essential. It is unknown, without further investigation, whether there is a possibility of installing gas central heating in the property. However, do not fear electric storage heaters have come a long way since the bad old days. Though not as cheap as gas central heating storage heaters have become very efficient over the years and there are some excellence models available. The bathroom seems to have a shower and the tiling looks a bit weird, I just can’t tell what’s going on with it. Are they ceramic? Are they badly fitted?
To finish on a a couple of positives. Parking is provide communally, however it is covered, quite rarity and the location is near perfect. Within half a mile of Walsall town centre and right on the cusp of the major road networks and M6/M5 motorways.
So, in conclusion what you have here is a property that you can clearly rent out as it is or spend some money on improvements and get a little more bang for your buck by increasing the rental yield?
If you wish to discuss this property further and have a detailed discussion about my opinion and thoughts of whether this is the right investment for you, please feel free to get in touch. I am happy to share my opinion on any other property or properties you are thinking of purchasing. Just send me the link.
Phone: 01922 311016