People keep telling me they can’t find the right property in Watford. But are you looking hard enough….
Is there some potential in this 2 bed terrace on Brixton Rd being advertised by Colin Dean for £325,000?
Property Investment on Brixton Road Watford
Have a look at the full details here:  BRIXTON ROAD 2 BED TERRACE
It’s currently rented out for £12,000 per year which makes a yield of 3.7%.  That is under the market rent for this street which is popular with professional tenants.  The description does tell you there is an existing tenancy until Jun 2016 so there’s probably not much you can do about the rent to start with but in 12 months time you could easily push it up and increase your yield.
If you’re used to looking at terraced properties then you’ll have seen many of them don’t have a landing/corridor upstairs whereas this one does.  2 bedrooms and a bathroom off landing which is quite rare in Watford. With this in mind I believe there is the potential to move the bathroom to the back of the kitchen – quite a common place to have the bathroom in Watford. And then you would have a three bedroom house.
If you can do this cost effectively you would both add value to the property and be able to charge closer to £1,295 in rent.
So assuming you bought at asking (perhaps you can get it for less) and you spent £10k moving things around you would have a yield of 4.6% against the £335,000 you would have spent.
Is there potential here?  Potentially!  Why not get down there and have a look for yourself.  You can only see so much on Rightmove and viewings in person will often give you the details you need.
If you’d like to discuss your next property investment then please don’t hesitate to get in touch.  Yes we do lettings but we LOVE property and all it’s facets so why not give us a call and tell us what you’re up to!