Gaisby Lane, Shipley
BUILDING CONVERTED INTO 5 X 1 BED FLATS
Income Producing £ 1609 per month =£ 19,279
GAISBY LANE, SHIPLEY, BD18 1AZ
PURCHASE PRICE £ 200,000
FINDERS FEE £5,000
This property is sold under auction conditions- immediate exchange with 10% deposit and then completion within 28 days.
Market Value as 5 flats £250,000 – 20% BMV
COMPARABLE VALUES
• 6, Gray Avenue, Shipley, West Yorkshire BD18 2HP
£55,000 Flat, Leasehold, Residential 16 Jan 2015
• 3, Park Grove Court, Bradford, West Yorkshire BD9 4LQ
£50,000 Flat, Leasehold, Residential 21 Aug 2017 1 bedroom
Current Gross Income = £ 19,279 per annum
Great Investment Opportunity!
For a limited time only we have managed to secure a readymade and income producing block of 5 x 1 bed apartments which are all rented and income producing at £50,000 BELOW MARKET VALUE.
Location
The property is situated close to frizinghall train station and Shipley town centre .
Rental
The 5 flats are rented for a total of £1,609 PCM =£19,279
FLAT 1 - £314.00 PCM
FLAT 2 - £291.00 PCM
FLAT 3 £286.50 PCM
FLAT 4 £ 346.66 PCM
FLAT 5 £ 368.33 PCM
The Vision
- To purchase the property for £200,000 and enjoy immediate cashflow
- Refinance the property against its true commercial valuation and pullout most of your deposit money!!!
Costs to consider:
Mortgage Cost @ 4% = £500 pcm
Management @ 10% plus Vat £192 pcm
Maintenance £80 pcm
Contingency (Voids) 10% £160 pcm
CASHFLOW AFTER ALL THE ABOVE COSTS £677 pcm = £8,124 per annum MANAGED
CASHFLOW SELF MANAGED £869 pcm = £10,428 per annum
Capital Required To Get Involved:
- Purchase Price = £200,000
- Deposit @ 25% = £50,000
- Auction fee £2,400
- Stamp Duty = £6,000
- Legals = £1,000
- Sourcing Fee = £5, 000
Total Capital Required = £64,400
The Return On Investment based on an investment of £64,400 = 12.6% MANAGED
The Return On Investment based on an investment of £64,400 = 16.19% SELF MANAGED
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.
