This is the cheapest 3 bedroom house available for sale in
Chichester....
Yet it's been on the market for 6 months!
It's just
a mile from the city centre, with parking on it's private driveway. Priced at
£230,000 it already offers decent value for money. It would rent for around
£900pcm, giving a 4.7% yield based on it's full asking price.
The first
bedroom is of a very good size (164 square feet), the second is a decent double
and the third a large single. It is neutrally decorated and carpeted throughout
with a decent fitted kitchen too.
So why hasn't it sold? I think this is
mainly down to its presentation. The front is overgrowing with weeds, giving a
horrible first impression and limiting it's use as a driveway. Inside there is
quite a lot of clutter (see the bedroom picture), which detracts from what is
actually quite a spacious property. The bathroom is downstairs, not something
you could change, but it does effect buyers more than renters. Giving it a
little spruce up would be enough to change this perfectly serviceable bathroom
from looking unwelcoming to more inviting too.
The cheapest 3 bed house
available to rent in Chichester is priced at £930, so it's conceivable that with
a little tidying up it wouldn't take much to increase both the desirability,
value and rent achievable on the property. My original £900pcm valuation is
conservative based on its current presentation and the fact you would want to
minimise it's initial void period.
Spotting opportunities like this can
make an excellent investment. Having been on the market for a long time you
would expect the vendors to be tired of the sales process and looking to accept
an offer on the property. Once their 'clutter' is removed from the property and
you take vacant possession, a little bit of window dressing will transform it
into a very rentable property.
Full details can be found on Rightmove via the following
link:
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E-mail me on clive@crjlettings.co.uk or call 01243 624 599.
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