Buy to let deal of the day - Teddington conversion

An agent friend of mine sent this to me last week as a great opportunity for a buy to let investor and I agree. Although it's a studio flat it has the potential (subject to the relevant permissions) to be converted into a one bed flat. The location couldn't be better as its slap bang between the High Street and Broad Street so a short 5 minutes to the train station.

As a studio it would fetch around £850 per month in rent but as a one bed you could get as much as £950-£1000. Its on the market at £210k so say you get it for £205k you'll probably only need to spend £2-3k putting in a new stud wall and doing a bit of redecoration. So with a total investment of £208k and a rental income of £975pcm that gives you an average yield of 5.6%. Cracking for Teddington!

One thing - I'd try and get an overhead shower in if I could as although the bathroom is lovely it would put most tenants off to just have a bath and hand held shower. Not ideal for grabbing a quick morning shower! :o)

http://www.zoopla.co.uk/for-sale/details/35997146

 
  

If you're looking for your next buy to let or thinking about putting your toe in the water of property investing for the first time then I can help. Happy to give advice free of charge, no catch I promise! Just drop me an email to rebecca@rebeccasmithpropertyservices.co.uk. I'd love to hear from you.

Rebecca Smith
http://www.rebeccasmithpropertyservices.co.uk/