Albert Road, Levenshume
A BUILDING CONVERTED INTO 2X2 BED APARTMENTS PLUS 2X1 BED APARTMENTS 24% BELOW MARKET VALUE
ALBERT ROAD ,LEVENSHUME , MANCHESTER, M19 3PJ
PURCHASE PRICE £275,000
FINDERS FEE £5,000
MUST BE SOLD UNDER AUCTION CONDITIONS – IMMEDIATE EXCHANGE WITH 10% DEPOSIT AND COMPLETION WITHIN 28 DAYS
COMPARIBLE VALUES £360,000
1 BED APARTMENTS £60,000 EACH
2 BED APARTMENTS £120,000 EACH
• 8, Alma Road, Manchester, Greater Manchester M19 3NW
£60,000 - Flat, Freehold, Residential - 13 Sep 2018 -1 bedroom
• Purchase Price = £Flat 25, Harper House, Slade Lane, Manchester, Greater Manchester M19 2AF
£122,500 - Flat, Leasehold, Residential - 29 Jan 2018 - 2 bedrooms
Potential Gross Income = £26,400 per annum
2 bedroom flat
Slade Lane, Manchester, M19
1 bedroom flat to rent
Osborne Road, Levenshulme, M19
Great Investment Opportunity!
For a limited time only we have managed to secure a 24% BELOW MARKET VALUE building of 2x 2 bed PLUS 2x1 bed apartments in a great rental location close to all amenities and the railway station.
The 2 bed apartments will rent for £7800 per year EACH and the 1 bed apartments will rent for £5400 per year EACH. ?
- To purchase the property for £275,000 and enjoy immediate cashflow every month.
- Refinance the property against its true commercial valuation and pull out most of your deposit
Rental Income fully let = £ 26,400 per annum
Costs to consider:
Mortgage Cost @ 4% = £687.50 pcm
Management @ 10% £264 pcm
Maintenance 5% £110 pcm
Contingency (Voids) 10% £220 pcm
CASHFLOW AFTER ALL THE ABOVE COSTS £918.50 pcm = £11,022 per annum managed
This cashflow figures have been calculated after management
CASH FLOW SELF MANAGED =£ 14,190 PER ANNUM
Capital Required To Get Involved:
- Purchase Price = £275,000
- Deposit @ 25% = £68,750
- AUCTION FEES £1,500
- Stamp Duty = £8250
- Legals = £1,000
- Sourcing Fee = £5,000
Total Capital Required = £84,500
The Return On Investment based on an investment of £84,500 = 13.04% managed
The Return On Investment based on an investment of £84,500 = 16.79%
We are in contact with a local letting agency within this location who would be able to manage the property.
FIRST TO SEE WILL BUY!
If this is of interest call LEO immediately on 07778299103 to reserve.