We have sourced another great freehold opportunity. This time we’re looking down towards the South East in Suffolk. This grand looking period property has been offered to us at £425,000.
Most of you will know Newmarket as being home to one of the most famous horse racing tracks in the world. There is a strong industry connected to racing in the area and Cambridge is only circa 20 minutes away.
It’s essentially a block of 3 self contained apartments. However, the middle apartment is being used as a communal flat whereby the rooms are let on an individual basis.
The property does not require a HMO license as far as we’re aware.
Lower Ground: 2 bedroom self contained apartment | £650 PCM
Ground & First Floor: Communal kitchen and 3 lettable rooms | £1,350 PCM
Second Floor: Studio | £650 PCM Gross monthly rental income is £2,650.
The managing agent has just started to remarket the properties as the property has undergone a full refurbishment. This deal offers a NET ROI of circa 16% per annum based on a 25% cash deposit.
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Please Note: Property values can decrease as well as increase. No express or implied income claims are made herein. Historic performance should not be taken as a guarantee of future performance. Leveraged property investment with mortgage finance can increase the risk of losing money as well as increasing the possible gains.
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