Have a look at this lovely 3bed ex-local authority flat on Doddington Grove. This part of Kennington is ideal for professional sharers starting their life in the City as it offers unrivalled access to the tube. Less than a minute walk and you are ready to embark on a Northern line train.
Garbett House SE17 – 3 bedroom flat at £450,000
I estimate rents up to 500pw (470pw worst case) as a 3bed, thus yielding 5.8% (5.4% at worst) but to increase the yield you can actually let this property as a 4bed. Ideal for sharers who live their life in and around work in town and just need a place to put their head down at night. As a 4bed no living you would fetch 550-600pw (6.4%-7% yield).
Now that’s attractive.
And furthermore you needn’t really do much to the flat. It looks in perfectly lettable condition as it has a relatively modern kitchen and bathroom, it comes with a long lease and reasonable service charges as there’s no lift.
Buy now and I’ll guarantee you will have tenants for the peak summer months.
As always email me for property chat on jeroen@xandermatthew.com or call the office on 020 3397 2099.
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