Location: Bristol
Property Type: Maisonette (2 Bed)
Purchase Price: £120,000
Rental Income: £1,000pcm (predicted)
Tenure: Leasehold
Status: Empty
Strategy: Buy To Let/Buy To Flip
This cheap leasehold flat in Bristol comes with a significant discount of gross valuations above £140,000 and offers are considered below £120k for serious cash only buyers.
The leasehold on the property is the sticking factor. Only 52 years remaining it will cost £21,000 to extend… But… Factored into a discounted purchase price you could be getting a bargain with a chance to rent between £900-£1,100pcm or flip at something nearer the market rate asking price as much as £150k.
No service charge, ground rent just £85 per annum, should you purchase even at £115k and pay the £21k lease extension for a total cost of £136,000… You can immediately let out with predicted £12,000 annual income or 8.8% per year. Optionally, with a lengthy lease the property will be more attractive to buyers in and around £150k.
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Please Note: Property values can decrease as well as increase. No express or implied income claims are made herein. Historic performance should not be taken as a guarantee of future performance. Leveraged property investment with mortgage finance can increase the risk of losing money as well as increasing the possible gains.
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