9 Apr

Gidlow Road, Liverpool, L13 – Adding Value

I’ve noticed this new to the market two bedroom mid terrace house that could be converted in to a three bedroom house.

Adding an extra bedroom to a house is a great way to add value to a property as well as increasing the rental income achieved.

This property as a two bedroom house would achieve a rental income of between £5,400 and £5,700 but if converted to a three bedroom house would increase the income to approx £6,300.

Looking at the floor plan and the photos, then it should not cost to much to convert the upstairs bathroom to the additional bedroom and then convert the downstairs utility room in to a bathroom as there is already currently a toilet and basin in this room.

The property is currently on the market with Entwistle Green for offers in excess of £69,950 and if purchased at this price and you spend £5,000 on converting and cosmetics works, then you could generate a 8.4% yield. As always, with some good negotiating works, then this yield could easily increase to over 9%. Click here to view the property advert

If you would like any advice on this property or any other properties that you may be interested in, then contact me on adamr@liverpoolpropertyblog.com