3 Quasi semi detached in East Manchester.
Add to a portfolio of single let properties for steady cash flow and projected equity growth.
This property was acquired via one of our agents who called advising the original sale had fallen through and asked if we could help. The property required work but was in a good area within a 2 minute walk of a main tram stop into Manchester. We stepped in and agreed a purchase price around 20% below market value.
We completed an six week refurbishment that saw upgrades to the damp course, roof space, floor joists, all double glazing panels (but not the frames), cosmetic touches to the kitchen, bathroom then complete flooring and decoration throughout.
The property had and old dilapidated wooden lean to conservatory at the rear, this was removed and during the work a second hand UPVC conservatory was sourced and erected, if we had been unable to source a replacement then the area would have been decked to provide a nice outside space.
We had the letting agent view the property around two weeks before completion which led to it being let within 24 hours of completion and set a new ceiling for rental in the area 5% higher than had previously been achieved in the area.
Before & After Picture’s Below.
New Market Value: £120,000
Refinanced @ 75% LTV: £90,000
Cash Left in Property: £6,000
Rental: £7,500 = 7.8% gross yield
Please contact us today to see how we can make your money work harder for you.