Monday, 11 May 2015

Great looking 3 bed in Burley with en-suite potential

This great 3 bed house in Burley on Lumley Road is ideal for professional renters and would make a great investment property. Located just a stones throw away from Burley Park train station, it's close to all the necessary commuter routes and Leeds city centre is less than 10 minutes away.

The property has just recently been refurbished so is already in a good condition and as it is would likely rent out for around £117,000 per annum which would generate a yield of just over 7%.

If however, you really wanted your property to stand out from the crowd and limit any potential void periods then it's looks as though there is plenty of space in the bedrooms to create three en-suite bathrooms. From looking at it you would probably need to spend around £15k to do the necessary work. You would then be able to achieve a rent of £90ppw (£14,040 per annum) so if you bought the house for around £140,000 you would then be looking at a yield of 9%.

From my experience there is a real shortage of high end, en-suite properties in the Burley area so by carrying out this work you be able to make this house one of the more desirable, and as it's a three bed you'd be likely to achieve permanent occupancy.

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