Property description
ONE BED FLAT, GILESGATE, INVESTMENT OPPORTUNITY, OFFERING A 7.8% RETURN.
A well located, one bed upper flat which is a great investment opportunity for those looking to invest with the Durham student housing market. The landlord is open to selling the property furnished or unfurnished. The finish is a good standard and this is an investment that requires no immediate capital expenditure to get the most from this asset. This is a perfect property for postgraduate students looking for a one bed flat and has been fully let for the past five years to international post grads.
The property is currently let at £5,100 p.a. net, which is a yield of 7.8%. The property comprises of a good-sized bathroom, large living room, double bedroom and good-sized kitchen.
The property is located in Gilesgate, close to local amenities such as Sainsbury's Local and Tesco Extra. The house is located close to the 64 bus route into Durham City ensuring prospective student tenants can get to Elvet Riverside via an approximate fifteen minute bus journey. An Arriva City Wide bus pass can be purchased on a termly basis for around £15 per week.
Please note this property is available on a leasehold and the ground rent is charged at £50 per year payable in March. The service charge is split into two payments payable in January and July and is charged at £ 295.83 per payment (£591.66 per year)
Viewings can be arranged by calling Elvet Estates on 0191 375 7000
Property Features :
- One Bed Flat
- Gilesgate
- Investment Property
- Close to Amenities
- Close to A1(M)
Property Info: