This one caught my eye as the post states, ‘Attention investors 7.50% rental return can be sold with current tenant”. Well, if the yield is correct that would make the rental in the region of £530.00 pcm. Which I hasten to add is well above average for a property of this type in this area. However, considering the photos, the spec of the property is well below average. So, if you are thinking of taking a punt on this one I would take it with the sitting tenant…Well, why wouldn’t you? The converse would be to market it as it is and to be brutally honest the only interest you would likely get would be from benefit claimants and that would mean a rental of £454.00 pcm (Based on the maximum Local Housing Allowance entitlement) leading to a yield of 6.41%.
Interestingly, the property has already been reduced twice in three months by £10000. There maybe more “Wiggle room” yet to be had? But seriously, go and take a look, meet the tenant and check out the spec in more detail…This maybe a a bargain in waiting!?
The location is ideal being within easy reach of junction 9 of the M6 and in the vicinity of other major transport routes leading to Walsall, Wednesbury and West Bromwich town centres. There is also a wide selection of schools less than half a mile away including Joseph Leckie Academy.
The current asking price is £85000 with Bairstow Eves (01922 312 791) click here for details http://www.zoopla.co.uk/for-sale/details/39105567.
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