I’ve come across this great two bedroom ground floor apartment on the sought after development of The Point in West Derby for only £75,000.
These properties were originally sold of upwards of £130,000 but prices have dropped as several properties were repossessed when the credit crunch hit. Unfortunately there still continues to be properties repossessed over the years and this property is also a repossession. I’ve got great experience of these properties and I know that they will rent out to good quality tenants no problem for around £6,300 per annum.
The service charge is a reasonable £684 per annum and the development is still looking in great condition as it is well looked after. I have had an apartment valued by the bank when I was re-mortgaging over 2 years ago for £80,000 so I would like to believe that on the open market these properties would be worth at least £85,000.
I feel that this would make a good safe investment as it will show good signs of capital growth as well as generating a net yield of around 7.5%.
The property is currently up with Reeds Rains and I’m sure they will have plenty of interest in this property due to the price it is on offer. Click here to view the property!!
As always, I welcome your comments and thoughts regarding the blog and the properties that I showcase.