BTL Deals of the Week #22 - with a surprisingly affordable studio listed at £240k!
Looking for a quality investment can be a bit overwhelming. That's why in this week's Buy To Let Deals video, Kristjan is breaking it down for us by reviewing three listings, all in different price ranges: up to £500k, £500-750k, and £750-1m. So, whether you're a first-time investor or a seasoned pro, you'll find something that fits your budget.
First up, a studio with a garage priced at just £240k, a steal considering it should achieve rent of £1200-1300 per month, with the added bonus of renting out the garage separately.
Second on the list is a beautifully furnished property listed by Modern House that would be an excellent case study for achieving top-market rents.
Lastly, a sprawling 4-bed surrounded by greenery in Burgess Park, offering quiet and peaceful surroundings; a rare find in the capital. Let's dive in and explore the opportunities!
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Up to £500k
I can’t remember the last time I saw a half-decent London property for less than £300k! So this studio with a garage at £240k is a steal! It should achieve £1200-1300 per month rent and a strong likelihood you could let the garage separately for another £100+ a month. Caution over establishing Ground Trent & Service Charge costs and, with 91 years left, a lease extension is going to be required for a future sale. Otherwise looks ‘ready to go’.
Properties listed with Modern House rarely disappoint. I’ve always been an advocate of beautiful homes achieving top market rents and this would be an excellent case study. A stylish, practical interior I would expect to see a property of this calibre let for around £3k per month however you may need to furnish this in a similar style/standard to achieve that. Lease is short at 90 years but Share of Freehold protects you from this becoming a major or particularly costly process to resolve. Interiors of this specification would also lend themselves strongly to short-term letting subject to local licensing requirements.
This sprawling 4-bed is surrounded by Burgess Park offering quiet, peaceful security and the rare benefit of green surroundings in this buzzing capital. I’d expect to see a property like this achieve around £4k per month. Freehold with a small annual service charge and around 1600 sq ft (150 sq metres) this is a fantastic opportunity. This could be let ‘as is’ but there is also an argument to up-spec/modernise the kitchens and bathrooms to future-proof them for the next 15 years or so. I’d also be inclined to invest in the garden to make that a practical, low-maintenance space that can be used all year round.