Monday, 16 January 2017

Beautifully done out house in Burley with potential 11% return

This beautifully done out 3 bed property on St Anns Avenue offers the best of both worlds to an investor. It's already in a fantastic condition so could be rented out straight off the bat but there is also great potential for converting the basement in to another bedroom. 

It's in a great location that appeals to both students and professionals as it's just off Burley Road  and is in close proximity to Burley Park train station and regular bus services into Leeds City Centre. 

The Kirkstall Bridge Shopping Park is just a short journey away and there are great shopping and leisure facilities available on Kirkstall Road.

The property itself has been recently refurbished as well as having had a new boiler recently also. It could very easily be rented out straight away as it is although I would definitely recommend converting the basement to create a fourth bedroom with an additional bathroom. This work

A property of this standard, if rented out to 4 tenants could achieve £18,720pa so if you managed to get the property for around £150,000 and then spend around £10k on the work then you would get a return over 11% and a fantastic property. 

Friday, 13 January 2017

Newly refurbished house in Burley/Kirkstall with nearly 10% return

This beautifully done out property on Eden Crescent on the Burley/Kirkstall border has been finished to a very high standard. This location is of particular interest to the young professional market with it's great transport links to Leeds City Centre. It's also great for access to the surrounding areas and all the great local amenities. 

The ad mentions it could be rented out as a 4 or a 5 bed which means it could be rented out to a group of young professionals or as is ever popular as a house share. If you were to go down the route of renting it to 5 tenants you would need to fit another bathroom or at least another toilet to meet the required standards and also check if the property already has a HMO licence so that's definitely something to think about. Alternatively you could easily rent it out to 4 people.

With a house of this standard you could likely achieve around £85pppw. If you were to get the house for around £220,000 and kept the property as it is and thus rented it to 4 people you'd be looking at a healthy return of 8%. If, however, you wanted to go down the route of renting it to 5 people you could easily create a Jack-and-Jill bathroom on the first floor using the 2 larger bedrooms. This would likely cost around £3,000 which is turn would give a healthier return of almost 10%.