Monday, 5 September 2016
Great house in Burley with a potential of 10% return
This semi-detached house on Burley Wood Lane is ideally located for professional renters. Located in between Burley Road and Kirkstall Road it's a prime location for transport routes straight into Leeds City Centre.
Due to some of the room sizes there is definitely the potential to reconfigure this house and to create a great 4 bed house to maximise the return.
Firstly I would suggest knocking the wall down in between the kitchen and dining room to open up the space and to create an open plan living room and kitchen. The current living room could then in turn be turned into a bedroom. On the first floor I would suggest taking out the current bathroom and toilet and moving it to where the current small bedroom is. This then allows you to use this space to create a longer bedroom and then you could use some of the width to create another bedroom if you also made the current bedroom 2 a little smaller.
To reconfigure the property and to also update the decor with new carpets etc you would be looking at around £35,000. Once updated, a property of that standard and in this area could likely achieve £1,560pcm which is you managed to get the property for around £150,000 would give you a good return of 10%.