I’ve come across the building that contains 2 x two bedroom flats that is located in Lisburn Lane in Tuebrook.
Although there are no internal photos, I would guess that the properties need cleaning and modernising but this wouldn’t be too difficult to do due to the size of them.
They are up in the Sutton Kersh Auction with a guide price of £60,000 and I would estimate that we would achieve between £350 and £400 per month for the flats once made ready to rent out.
If you paid £5,000 over the asking price and received an income between my two valuations, then this property would offer a gross yield of 13.9%. If you spent an extra £5,000 on refurbishing the property, then the yield would drop down to 12.9% which is great.
I have rented out many properties in this area and I’ve always found it to be very popular and this week I’ve just sold a four bedroom house in the same road for £100,000.
I feel that these flats would make a great investment.
Click here to take a look at them
As always, I welcome any feedback or comments regarding the deal or the blog.