Adler Way, Liverpool, L3 – 8% Yield
I’ve come across this lovely 1 bedroom apartment on the City Quay Development that is available for £84,950 through Venmores.
These properties tend to let for £575pcm per month giving this a gross yield of 8% (if purchased at the asking price).
The property is a spacious one bedroom apartment with an modern open plan kitchen with integrated kitchen appliances including dishwasher, a bright lounge with two floor too ceiling windows, a generous size bedroom and a modern family bathroom.
These properties in the past where originally purchased for £137,000 back in 2007 so the discount on these properties are a massive 38%. I understand that this doesn’t give a true reflection of the discount due to the current market. If we look at the prices the two bedroom apartments have recently sold for, then you can see that in Ellerman Way there have been several sales in 2015 ranging from £100,000 up to £132,000. The £100,000 property was mid 2015 and the most recent was £132,000 at this was sold at the end of 2015 so prices are now increasing.
Based on these sold prices, if we look at the average price of a two bedroom being £115,000 (I feel they would be at least £120,000) then you are paying £30,000 less for a 1 bedroom. A two bedroom would achieve £650pcm so the 1 bedroom works out the better purchase.
At the time of writing this, I am unaware of the service charge costs for the property but this is a great well looked after gated development that is well maintained and has plenty of owner occupiers living in the development.
Why don’t you take a look at the property and let me know your thoughts, click here to view it.