1 bedroom flat, Southgate, Crawley
Here’s a nice looking 1 bedroom flat in Southgate, Crawley that has just come on to the market with Homes Partnership, for £169950. The flat is marketed for investors only, as there’s a tenant in-situ. So potentially, a ready-made investment for you. Here’s the Rightmove link for further details http://www.rightmove.co.uk/property-for-sale/property-56041028.html
A couple of points to consider before we get to the rental yield. The property details do not mention a shower over the bath. If the current tenant moves on we would advise putting one in, if there isn’t one already – just check with the agent in the first instance. The second point to note is that the property details mention the flat is freehold. Usually flats are sold leasehold. However, sometimes a share of the freehold is available as well. Again, just check this with the agent.
Ok, so what about the rental yield ?
Although the advertised details do not mention the rent currently being paid by the tenant, a property like this should fetch around £800pcm. So, based on this and the asking price of £169950, your rental yield would be about 5.6%. Which, in our opinion, is not too bad at all.
If you’re interested in purchasing the flat with the tenant in-situ, do make sure that you check the rent payment history. As we’ve said before, you want to buy an investment, not a nightmare !
If you’re looking to invest in property in and around Crawley, why not give us a call on 01293 515588. We’d be more than happy to have a chat with you about our favourite topic ! Alternatively, you can reach us by e-mail on crawley@northwooduk.com.
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