Yes, really! £59,000
There is a 1-bedroom apartment on the market, situated on London Road, Liverpool 3, that I think is a great investment opportunity. It’s an ideal home for a student or nurse working in the Royal Liverpool Hospital which is basically opposite. The new Royal Liverpool Hospital is due to open 2017 but will be just behind the existing so the location remains very desirable.
The School of Tropical Medicine is also less than a five minute walk. Plus, within 15 minutes’ walk is the City Centre, Walker Art Gallery, WorldMuseum, Liverpool Central Library, The Empire Theatre and Lime Street Station as well as the shops and restaurants in between!
The apartment itself is in pretty good condition and the details state furniture can be included. Personally, I’d upgrade the furniture to make it even more attractive to the next tenant. With an anticipated rent of £5,400 per annum and service charge of just £865 per annum, this offers a fantastic yield above 9% based on paying full ask £59,000. (Excluding other e.g. insurance, ground rent etc.)
It’s difficult to find a property in the City Centre with this kind of return. You can see the details here. As London Road is such a popular rental area, I imagine this will be snapped up by an investor.
I would appreciate any comments you may have about this property.