BTL Deals of the Week #12 - including a fabulous 2-bed maisonette listed at just £385k!
Scouring the market for quality investments can be daunting and, at times, overwhelming. In this week's Buy To Let Deals video, Kristjan reviews three listings, one for each of the price brackets set out: up to £500k, £500-750k, and £750-1m.
First up this week is a fabulous two-bed maisonette between Stoke Newington and Clapton, listed at just £385k, so if goes close to this figure it’s a great opportunity! Following that we have a lovely loft-style 2-bed flat in Whitechapel with plenty of exposed brick and large bright windows. Last but not least we have a very interesting property, listed as a 3-bed, but which in our opinion makes more sense as a 2-bed with additional studio space in the basement; an ideal opportunity for artists, photographers, personal trainers etc to make use as a live-work space.
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Up to £500k
This 2-bed, top-floor, period maisonette is a no-brainer as a buy-to-let. Located close to the ever-desirable Stoke Newington, the property offers two double bedrooms, a bathroom and open-plan kitchen/reception. Personally, I would upgrade the bathroom to make it more luxurious, and add some higher-grade furniture and a good colour scheme. You should be looking at a rental income of around £2k per month- possibly higher in the peak Summer tenancy cycle. The lease is 89 years so do explore an extension of this as mortgages are tough to secure once this dips below 80.
A bona fide loft apartment in the popular E1 location with easy access to The City, Spitalfields and the nearby Shoreditch & Hoxton. Cosmetically it looks good- although I’d be tempted to put in a larger and more luxurious-looking kitchen & appliances. Otherwise, let the high ceilings & big window do the selling for you. Quality furniture will help get that desirable premium. I’d expect rent in the region of £2500pcm. Share of Freehold is great and Service Charges are low at just £1200 pa.
This unusual property is excellently located for the hustle & bustle of Borough and all that SE1 has to offer. Strictly speaking, this property is not a 3 bed but a 2 bed. However, the property has a spacious basement room measuring over 300 sq ft. This makes an ideal studio, treatment room, client gallery, studio…whatever. As such, this would appeal to people with certain requirements. This would probably do well on Airbnb (and other) short let sites and would also probably do well for pop-up commercial enterprises (subject to relevant use/consent). I’d expect to see this property achieve over £3k pm and that could be quite a bit more if you find the right tenant/target market. Nice long lease- however quite high service charges so worth exploring what those cover.