3 bed Flat For Sale £160,000
This property will make a lucrative addition to an investor’s portfolio, offered already tenanted until October yielding above 6% net with good scope to increase. The second-floor apartment offers spacious accommodation consisting of; entrance hallway; open plan living area with space for a dining table; Juliet balcony providing plenty of natural light; a modern kitchen; useful storage cupboard; family bathroom with bath and shower cubicle; three well proportioned double bedrooms. Additional benefits of the well-placed development include an allocated under croft parking space, secure intercom entry and communal gardens.
Richmond Court is situated in a peaceful and quiet residential area but is still just 5 minutes’ walk to Chapel Street, 10 minutes from Salford Central station and very short distance into the city centre and Trinity Way making it the most convenient of locations. The area is popular with students with being in the Salford University locality, which is where over 20,000 students come to study meaning there will be always be plenty of demand for rental properties such as this one.
Salford is an unrivalled location for investment, with price growth being higher than the national average and providing high rental yields and good potential for capital growth. The areas surrounding Chapel Street have seen huge redevelopment over the years which has contributed to the desirability of it as a residential location. Industry experts anticipate that Greater Manchester will need at least 200,000 new homes by 2040 to meet anticipated economic and population growth so there hasn't ever been a better time to invest.
Financial Breakdown
Gross rent: £11,700
Ground rent: £125
Service charge: £1,080
Net income: £10,495
Gross yield: 7.31%
Net yield: 6.56%
Important Note To Purchasers
*Service charge, management fee and ground rent are included as part of the assured rental period.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance, and do not constitute any part of an offer or contract. Neither Yieldit nor the vendor or lessor accept any responsibility in respect of these particulars, which are not intended to be statements or representations of fact and any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.
Yieldit ref: Yl-07199
Richmond Court is situated in a peaceful and quiet residential area but is still just 5 minutes’ walk to Chapel Street, 10 minutes from Salford Central station and very short distance into the city centre and Trinity Way making it the most convenient of locations. The area is popular with students with being in the Salford University locality, which is where over 20,000 students come to study meaning there will be always be plenty of demand for rental properties such as this one.
Salford is an unrivalled location for investment, with price growth being higher than the national average and providing high rental yields and good potential for capital growth. The areas surrounding Chapel Street have seen huge redevelopment over the years which has contributed to the desirability of it as a residential location. Industry experts anticipate that Greater Manchester will need at least 200,000 new homes by 2040 to meet anticipated economic and population growth so there hasn't ever been a better time to invest.
Financial Breakdown
Gross rent: £11,700
Ground rent: £125
Service charge: £1,080
Net income: £10,495
Gross yield: 7.31%
Net yield: 6.56%
Important Note To Purchasers
*Service charge, management fee and ground rent are included as part of the assured rental period.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance, and do not constitute any part of an offer or contract. Neither Yieldit nor the vendor or lessor accept any responsibility in respect of these particulars, which are not intended to be statements or representations of fact and any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.
Yieldit ref: Yl-07199
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