Having a little browse earlier today and I have come across this gem of an investment, especially if you are a first time landlord, as it looks immaculate judging by the photographs and they rent out so easily. It also has no upper chain which is a bonus!
On the market for £125,000 it’s a great price and you could get a return of 5.8% per year if you get the rent I would expect you to achieve which is £600.00 pcm.
Marketed by Purplebricks.com the accommodation comprising; entrance hall, a spacious living room,modern fitted kitchen, bedroom and a bathroom.
One of my landlords rang me last week from Cardiff Pointe, after he had spoken to a friend of his. Over Christmas, they were discussing the Cardiff Bay property market and neither of them could make their mind up if it was time to either sell or buy property.
This could make a good buy to let investment (subject to details on the lease and service charges). The property doesn’t look in bad condition although a modest amount of updating probably wouldn’t go amiss. In terms of yield at the top end around £650pcm should be possible. At the asking price of £119,500 this would give a gross yield of just over 6.5%.
My suggestion would be to give the selling agent a call, find out the missing details re the lease and the service charges but potentially make an appointment to view as on paper this looks like it could work well as a buy to let investment. I believe that the charges in this Windsor Quay development are quite reasonable compared to the newer developments.
Well my Cardiff Bay Property Blog reading friends, I to wish to answer a question emailed into me from a potential Cardiff Bay landlord last week. Nice chap, lives in Lisvane, and it turns out, after having a coffee with him, he works in IT, has a spare bit of cash (now the kids have flown the nest) and wanted to buy his first buy to let property.
His main question was … Do I buy a freehold house in the Cardiff Suburbs or a leasehold flat in Cardiff Bay?