I’ve noticed that this property in City Quay that had originally been on the market at auction a few weeks ago has come back available. I actually went to view this property prior to the auction and the vendor was willing to sell it prior to the auction. The agent asked for best and final offers but my offer was not good enough. The agent contacted me last week to say that the sale has fallen through and that my original offer would be good enough now but as I have committed to another property, then I have declined this.
This is a great investment property in a great location and proves very popular with tenants and owner occupiers. The property is in a good condition and would only need cosmetic works doing it (unless you wanted to replace the kitchen and bathroom as they are around 12 years old)
I was involved in a sale of a tenanted property that we sold to another investor for £123,000 last month so if you purchased this property for around £105,000 then you would have over 15% equity in the property.
If you wanted to tenant this property, then you could achieve between £675 and £750 dependant on if you replaced the kitchen and bathroom and the quality of the furniture.
The property did get lots of interest so I feel it will do again but it makes a good investment , if you can purchase it at the right price.