1 bed Flat For Sale £40,000
Ugly Building, Attractive Returns! This super-cheap but well maintained ground floor flat would suit a cash investor, looking to make over 10% gross yield on an AST or much more as a short term let.
The building may not be a thing of beauty but the flat itself is spacious & well looked after, with a modern fitted kitchen and bathroom.
In addition to the kitchen and bathroom there’s a lounge and a good size double bedroom.
There’s no gas in the building so the flat is heated by modern electric heating panels, with an electric shower over the bath.
There’s a rear yard which will be handy for drying clothes or even sitting out with a cuppa, and a communal garden. There’s also private parking to the front of the building and this flat does come with a parking space - but it’s so close to town a car may not be needed.
It’s less than 10 minutes walk to the centre of town or a right turn onto Stainburn Road gets you out into the countryside in a couple of minutes.
Priced at only £40,000 it’s going to appeal to first time buyers or investors with cash, as you’ll struggle to get a mortgage for such a low amount.
If you paid the £40k asking price it will deliver over 10.5% gross yield. That's based on getting £360pcm rent on an AST, even taking into account the ground rent and £65 per month community fee (covering building insurance & maintenance).
The close-to-town location means it may be possible to earn a lot more by renting it out as a short term let. Perhaps not as a holiday let to tourists but it could be a good alternative for contractors or those working in town who don’t want a hotel or B&B.
Either way, the furniture and appliances are all included in the price so that will help when kitting it out for rental.
If you’ve got £40k to spend and can see beyond the ugly exterior, this tidy little flat could make you a highly attractive investment.
Call now to arrange a viewing, quoting reference MB0127.
About Mark Buchanan – Powered by eXp
i'm Mark Buchanan, husband to Julie and dad to our three boys, Jack, Bailey and Morgan. Born and raised in Workington, I have worked in property since 2012 I have developed a true passion for all things property and love helping people to both buy and sell their homes. Together with Julie and Jack, we offer a family run business with two main aims: To provide brilliant marketing and a fantastic service. The 100+ 5-star reviews that we’ve received so far are testament to that. By concentrating on the things that matter, we help our customers to get the very best price for their property. Our goal isn’t to be the biggest agent, but the best. Focusing on quality rather than quantity, sellers are no longer just another number. We don’t operate within the usual office hours of 9-5, and our personal service means that you don’t have the hassle of dealing with multiple people in an office. Julie and I are on hand both night and day, 7 days a week, right up until we hand the keys over. We'll work together to create a bespoke service that's as unique as your property.
The building may not be a thing of beauty but the flat itself is spacious & well looked after, with a modern fitted kitchen and bathroom.
In addition to the kitchen and bathroom there’s a lounge and a good size double bedroom.
There’s no gas in the building so the flat is heated by modern electric heating panels, with an electric shower over the bath.
There’s a rear yard which will be handy for drying clothes or even sitting out with a cuppa, and a communal garden. There’s also private parking to the front of the building and this flat does come with a parking space - but it’s so close to town a car may not be needed.
It’s less than 10 minutes walk to the centre of town or a right turn onto Stainburn Road gets you out into the countryside in a couple of minutes.
Priced at only £40,000 it’s going to appeal to first time buyers or investors with cash, as you’ll struggle to get a mortgage for such a low amount.
If you paid the £40k asking price it will deliver over 10.5% gross yield. That's based on getting £360pcm rent on an AST, even taking into account the ground rent and £65 per month community fee (covering building insurance & maintenance).
The close-to-town location means it may be possible to earn a lot more by renting it out as a short term let. Perhaps not as a holiday let to tourists but it could be a good alternative for contractors or those working in town who don’t want a hotel or B&B.
Either way, the furniture and appliances are all included in the price so that will help when kitting it out for rental.
If you’ve got £40k to spend and can see beyond the ugly exterior, this tidy little flat could make you a highly attractive investment.
Call now to arrange a viewing, quoting reference MB0127.
About Mark Buchanan – Powered by eXp
i'm Mark Buchanan, husband to Julie and dad to our three boys, Jack, Bailey and Morgan. Born and raised in Workington, I have worked in property since 2012 I have developed a true passion for all things property and love helping people to both buy and sell their homes. Together with Julie and Jack, we offer a family run business with two main aims: To provide brilliant marketing and a fantastic service. The 100+ 5-star reviews that we’ve received so far are testament to that. By concentrating on the things that matter, we help our customers to get the very best price for their property. Our goal isn’t to be the biggest agent, but the best. Focusing on quality rather than quantity, sellers are no longer just another number. We don’t operate within the usual office hours of 9-5, and our personal service means that you don’t have the hassle of dealing with multiple people in an office. Julie and I are on hand both night and day, 7 days a week, right up until we hand the keys over. We'll work together to create a bespoke service that's as unique as your property.
