For Sale £47,000 offers around - Terraced
- Excellent investment opportunity
- 2 bedrooms
- 1 lounge
- central heated
- double glazed
A very well presented 2 bedroom mid terraced property. Entrance leads into the front lounge then follows through into the dining kitchen which is fitted with kitchen wall and base units. The property benefits from a combi boiler and gas central heating and water. It is situated very close to the town centre which is very practical. Schools are all within walking distance. UPVC double glazed windows and doors fitted throughout.
Currently the property is tenanted and managed by Rossendale Borough Council, who use Calico Homes for the day to day management. The rental income equates to 70% of the LHA rate (£368.33/pcm), i.e. £257.83/pcm net. So Rossendale deduct 30% for managing the property, but their fee guarantees the rent is paid even if there are void periods or rent arrears, and it also covers the cost of day to day repairs. Rossendale have been managing the property since January 2015. This property would make a sound investment for a local investor willing to manage the property themselves or just carry on with the contract from Rossendale Council for a hassle free rental investment. If the property is self managed it would generate £368.33/pcm (£4,420/year), which represents 9.4% gross return on the asking price of £47,000.
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