2 bedroom flat, Three Bridges, Crawley
Marketed by Greenaway, here’s 2 bedroom flat with a £200 000 guide price. The property is currently tenanted so you might be able to buy a ready made investment from day one. However, if you do takeover the tenants, make sure that you check their rental history. Believe me, you don’t want to takeover a tenant who is struggling to pay the rent ! If you want to know more about what checks to carry out when purchasing an investment property with a tenant in situ, send us an e-mail and we can go into more detail than space allows here.
Details for this particular property can be found on Rightmove at http://www.rightmove.co.uk/property-for-sale/property-35908353.html
There is one feature of the property we would change, but it shouldn’t cost you more than a few hundred pounds. The change, however, will make the property appeal to a wider range of prospective tenants. Again, drop us an e-mail if you’re interested.
The fact that the flat is situated closer to Manor Royal than Three Bridges station does affect the rent a little. However, a property like this should be achieving £900 to £975 pcm, giving a respectable annual gross yield in the region of 5.4% to 5.9%. As this property is leasehold, don’t forget to factor in things like ground rent & leasehold charges if/when you run your ruler over it !
If you’re looking for property investments in and around Crawley or would like some independent advice on something you have your eye on, why not give us call before you part with any money. We don’t charge for our opinion. Feel free to call us on 01293 515588 or drop us an e-mail to crawley@northwooduk.com .
The Crawley Property Blog 