Check out this opportunity.  3 bed terrace on vicarage road with plenty of potential.
Auction Property Watford
Listed yesterday with Marcus Barnard with an auction ‘guide price’ of £275,000.
There are a couple of options for this property.  Refurnish and rent as a single let to a family.  This is a popular spot due to the close proximity to Watford Girls Grammar School and it’s highly sought after places.
That said, many of the properties on this stretch of Vicarage Road have been converted to HMO’s and there is good scope to do this here too.
Refurbished with a 2 story extension to the rear this property is probably worth £400k+ now.
What would you do with it?
As a single let you might rent this for £1350 per month.  Convert/extend to a 5 bedroom licensed multi-let and you could be looking at upwards of £2,500 per month in rent minus bills etc.
I guess it comes down to how well and how cost effectively you can convert the house and then what price you pay for it.  Personally I’ve never bought at auction but the experts say firstly you should try to buy before it goes to auction. If you can’t do that then set a limit on your budget and stick to it.  The reason that auctions are so successful is they play on the emotions of people in the room and more often than not people go above their ‘maximum budget.’
If you’d like to discuss this possibilities here give me a call on 01923 375 300.
For the full details of the property jump on to RIGHTMOVE HERE