Three bed do-er upper in Cambridge with a 4.6% return.

 

This do-er upper is on the market with Vincent Shaw who have pleasure in offering for sale this semi detached home which situated in a traffic free position within a popular housing estate. This property is on the market for £299,950 and is situated convenient for the City and Addenbrookes hospital with a wide range of local amenities nearby making this great for a professional family.
The living accommodation is well proportioned and comprises three bedrooms, first floor bathroom, entrance hall, lounge and kitchen/diner, front and rear gardens and a garage.
This property would let for £1,150 after a quick revamp earning you a 4.6% yield and giving you an investment as the property is sure to increase in value.

Now if you was to apply for planning permission and it was granted and you spent say £40,000 converting this into high end flats (I would suggest a one bedroom and a two bedroom) then your combined rental income would increase to around £1799pcm for both flats as in this area a high standard one bed would rent for £800+pcm and a 2 bed for £999+pcm meaning that your yield would now leap from 4.6% to a minimum yield of 6.4%.

Certainly food for thought this one.
Please see the link below for further details:
http://www.rightmove.co.uk/property-for-sale/property-50763478.html