Monday, 1 August 2016

Brilliant house in Burley with potential for over 12% yield

In it's current condition, this 5 bed house on Stanmore Street wouldn't really knock anyone's socks off but it definitely has great potential. Looking at it, there is quite a bit of wasted and unused space and with some clever 're-jigging' of the current rooms you would create a 6 bed property that would be a sound investment. 

Firstly, it's in an area that appeals to both student and professionals. It's located just a short walk away from Headingley and is also close to all the main transport routes that Burley offers.

You could best make use of the space by converting the unused basement in to two bedrooms with a shared 'Jack and Jill' bathroom. The first floor is far too crowded and the bedrooms are too small in it's current layout so I would suggest taking out the current bathroom and toilet, losing a bedroom on that floor and creating two larger bedrooms with a shared bathroom. On the top floor you would just need to add a 'Jack and Jill' shower room. 

Updating the decor and putting in a new kitchen would really finish it off and you would create a desirable property that would likely let out for around £90pppw. The refurb cost would likely cost in the region of £45k so if you managed to get the property for around £175,000 this would give you great return of over 12%. 

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