- 2 Bedroom tenanted apartment +
- Below market value property +
- 7.1% yield +
- Popular residential area +
- Ground floor apartment +
- Allocated parking space +
Pure Investor are delighted to bring to the market this ground-floor two-bedroom apartment situated in Denton. The apartment is ideal for buyers looking to take advantage of the range of reputable schools that are readily available whilst also benefitting from a selection of excellent local amenities and a wealth of transport links.
Offered to the market with a tenant in situ and available for rental investment purchase only this two-bedroom ground-floor apartment provides a yield of around 7.1% and has the potential with a rent review to achieve 8.25%.
The property is currently generating a rental income of £595.00 per month, however market average for this property is approximately £800.00 - £850.00 per month (comparable reports available on request for both rental and sales values on this property).
Sales values for comparable two-bedroom apartments clearly show market value in the region of £115,000.00 - £120,000.00 for this apartment (comparable reports available for sales valuations on request).
Internally the property comprises of; entrance hall with storage cupboard, spacious open-plan lounge with kitchen area, master bedroom, additional bedroom, family bathroom.
Externally the property has allocated parking for one car. Viewings are highly advised!
Investment Information
Address: Apartment 4, Warwick Court, Haughton Green Denton M34 7XF
Asking Price: £100,000
Property Type: 2 Bedroom, ground floor apartment
Allocated parking space
Tenure: Leasehold - 125 years remaining as of the 1st Jan 2020
Tenancy: Tenants in situ for the past 3 years, now on a rolling contract
Current Rental Income: £595.00 per month
Market Rental Value: £800.00 - £850.00 per month
Annual Rental Income: £7,140
Ground Rent: £125 per annum
Service Charge: £113pcm
Gross Yield: 7.1%
Net Yield: 5.6%