I have just noticed this studio apartment through Rightmove. This apartment is a fantastic purchase for a buy to let investor due to its prime location, attraction to tenants and excellent price.
Located on the eighth floor of the sought after development, One park West; which sits opposite the famous Albert Dock and next door but one to the Liverpool One development. The property boasts from being walking distance from local amenities, shops, bars and restaurants and just a stone throw away you will find Liverpool One bus depot enabling you to travel around or out of the City.
The apartment appears to have a spacious living area, with a narrower hallway which would be ideal for a bar table and stools where you could sit with breakfast and overlook the City. It then has a fully fitted kitchen which is separated from the main living area. There is an elegant bathroom and a handy utility cupboard with a washing machine/dryer.
Well presented and currently vacant, the property appears ready for a tenant straight away, meaning it is an ideal buy for anybody looking for quick income! Located near to Liverpool University and walking distance to the Centre, the property will appeal to a variety of tenants, particularly students and professionals, and with the demand for properties in the area, we would not expect a long vacant period before a tenant would be secured.
I would expect this property to achieve a rental income of around £650.00 per calendar month dependent on furniture and decor. That is an annual gross income of £7800 per annum, securing you a gross annual yield of 8.5%. The property is currently on the market for £92,000 which I feel is an excellent price.
Looking back at the previous sold prices in the area, I feel the asking price of £92,000 is pretty average. Click Here to view the previous sold prices in the development.
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