“Looks Can Be Deceiving”. 1 Bedroom Maisonette, Holden Crescent, Walsall, WS3. With Yields Of 10.50%.

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A one bedroom first floor maisonette, Walsall, WS3. The asking price is in the region of £40000 with Dixons of Walsall (01922 218 044).

Check it out here:

http://www.zoopla.co.uk/for-sale/details/37556478

To be honest I wasn’t expecting anything special with this property as my mind had kind of been made up by the external view and property location. However, a pleasant surprise awaited me!

So what was the surprise? let’s have a look…

If you do not want to spend anything improving this property immediately prior to a let, then this is pretty much “good to go”. However, I would advise improvement over time with this one.

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In certain aspects like the living room fireplace surround would, for me, have to be removed and replaced with something more modern. The decoration looks to be in the right kind of style and the property looks light and spacious because of it.

The bathroom suite looks old and definitely requires modernisation. The kitchen is semi-modern and seems to have the required space for white goods.  The bedroom is a standard double size.

The garden is communal and parking is off-road and to the rear of the property and there is double glazing in the majority of the rooms.

There are some downsides. The location, though close to the major road networks and Walsall town centre, is not the most salubrious. The heating system is storage heaters and the EPC (Energy Performance Certificate) is rated as an “F”, however has potential to be rated a “C”.

Appraised at a minimum rental of £350.00 pcm this equates to a very nice 10.50% yield. Another point of note is that the asking price has recently been lowered, so this has the potential to be more of a bargain than initially thought.

I would definitely recommend a viewing of this property and like me you may also be pleasantly surprised.

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

Email: salekm@ashmorelettings.co.uk

 

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