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| LIZMANS COURT, COWLEY |
I have blogged about this development on a few occasions and one investor took me up on this mid 2016. They purchased it and have lived happily ever after since (or so goes the theory)
The returns are just sooooooooo good here folks. I present you my next find:
On the market with Chamberlain Evans for £230,000 you will see a rental return of £1050 per calendar month which will give you a whopping 5.4% yield!
BUT! but, but, but. Work is needed as you can see.
Bathroom is not included in these pictures but let's assume that you are getting a new one. You need a repaint throughout and brand new carpets to bedroom. I would go with high quality laminate (ask me for more on what 'high quality laminate is!) which will reduce the maintenance ongoing, considerably.
It will also need furnishing with some decent furniture as well as curtain tracks and lampshades with new curtains and blinds to bathroom.
I stress the approximation of my estimated costs but I have overseen a few refurbishments!
Total cost - £5000
If you paid asking price and added this cost on top you still walk away with a rental yield (gross) of 5.3%.
Their rental history is solid dating back to 2005. You rarely see any voids in these apartments if ever. And do they appreciate? You bet!
On the 4th July 2012 number 21 Lizman Court was purchased for £155,000. On 10th May 2016 it sold for £220,000. Need more proof? In December 2014 number 9 Lizman Court was purchased for £168,000 and on 28th August 2016 it sold for £204,000.
Different shapes and sizes apart, they appreciate nicely.
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