Antrim Street, Liverpool, L13
When searching for properties I’m always trying to offer diverse properties to the investor who read this blog. In this situation I’ve come across a property that needs lots of renovation work but with the right knowledge and expertise there is definitely money to be made in this property either long-term or short-term.
It’s a three bedroom mid/end Terrace (due to the entry that runs to the side of the property) that is in need of modernisation including windows, doors, damp course and possible new roof. The property is currently available for £39,950 that was reduced yesterday and has only been on the market since the start of January.
I actually own a property in the next road and I have long standing tenants paying £575 per month rent in a similar style house but in a far better condition. I’m sure that if an investor purchased this property and spent £20,000 that they could turn this tired, run down property back in to a beautiful family home, not only would they have instant equity in the property, then they could be achieving a gross rental yield of 11.5%.
I’ve not actually been to view the property so my recommendations of the works needed would need to be confirmed buy an experienced builder.
Click here to view the property in question that is available through Reeds Rains in West Derby.