Overview

To the market this 2 bedroom, ground floor apartment in Fulwood, Preston. The apartment is situated in a quiet residential estate with a mixture of terraced, semi-detached and detached properties along with a smaller selection of apartments.

Key to the appeal of this spacious new apartment is the opportunity for an increase in rental income on the property. Current market rents for two bedroom apartments in the Ladybank development suggest a realistic monthly rental income of £800.00 per month. A monthly rental income of £800.00 per month would increase the rental yield to an attractive 7.7% per annum.

The apartment itself has been kept in an excellent condition by the current tenant who is on a 12 months contract with the first 6 months being paid upfront. The apartment consists of entrance hallway leading to all rooms, there are two double carpeted bedrooms with windows in both looking out to the front, a family bathroom with a four piece bath suit, including separate bath and walk in shower, the main living space is a large open plan kitchen, dining and living room, the kitchen and dining space is has lino flooring with the living room space being fully carpeted, the kitchen space includes integrated cooker, hob and extractor and space for a fridge, freezer and washing machine.

Investment Information

Full Address: 72 Ladybank Avenue, Fulwood, Preston PR2 9LY

Asking Price: £115,000

Property Type: 2 bedroom, 1 bathroom, ground floor apartment

Current Rental Income: £700pcm (£161.53 per week)

Annual Income: £8,400

Gross Yield: 7.3%

Service Charge: £1,100 per annum

Ground Rent: £150 per annum

Net Yield: 6.2%

Current Letting Agent Charges: 10%

Current Tenant Move In Date: 13th November 2023

Length Of Tenancy: 12 months

Tenure: Leasehold (130 years remaining)

Parking Space: 1 designated marked space

New Boiler Installed November 2023

Current Market Rental Income For This Property - £800pcm

Possible Gross Yield: 7.7%

Possible Net Yield: 6.7%

Price range:

1 Bedroom £135,000

511 sqft

Earn 11% Net Rental Yields

Short Term Lets Approved

Payment Plan

Complete a reservation from to secure the unit and provide Certified

ID, Proof of Address & Proof of Funds.

Pay a £2,000 non-refundable reservation fee

ClicPad broker fee 5% on exchange

Solicitors instructed

Balance due on completion cash or mortgage (less reservation fee paid)