An #Otley apartment that’s for keeps
Own a piece of history in this Grade II one bedroom apartment, the shell looks good but some thought needs to be given internally. Often in older buildings you will find wasted spaces, areas that aren’t used to the fullest.
I haven’t been to this property but on the first view of the floorplan I would be looking at adding an en suite or could even an extra bedroom be added?, this of course will add further value for sale and for rent.
The property needs upgrading but here you have the old meets new combination which I am a big fan of and I know works well in the area.
You have the benefit of parking, a garage and communal gardens – this is a classic lock up and leave and with it being ground floor opens up many would be buyers and tenants.
The property is on with Dacre Son and Hartley in Otley and can be found on the following link http://www.rightmove.co.uk/property-for-sale/property-62878274.html
It’s about buying right, at £150,000 spend £15,000 on renovation works with a new kitchen, new bathroom and look at a rental figure around £575pcm giving a yield of over 4%.
As with any leasehold property, make sure you check out what the service charge information is as this will have an effect on your overall return.
If you would like any advice on a particular property you have seen and wanted an honest opinion on what it would rent for, feel free to pop the web link on an e-mail to me – firstname.lastname@example.org