BUY-TO-LET DEAL OF THE WEEK: 3 bedroom house in Chichester, £350,000, 4.5% yield
Summary: 3 bedroom house in Chichester Listed for sale on 03/02/18 @ £350,000 Rent = £1.300pcm Yield = 4.5%
This week's buy-to-let deal of the week in Chichester is a three bedroom house close to the city centre. It's an unusual pick for me as it isn't necessarily 'cheap' compared to some three bedroom houses in Chichester, but it's location and size means it needs a closer look.
Put simply, it's located in Bishopsgate Walk - a private estate very close to the Eastern walls of the city that is well-looked after and very popular with home owners and tenants alike. The beauty of this particular house is it is set over three levels, and I believe the L-shaped second bedroom is large enough to be split in two - creating a four bedroom home. Yes, the fourth bedroom would be a 'box' room, but that's not unusual with four bedroom houses and the other three bedrooms would all be good sized doubles. If you were to consider it as a four bedroom house in this location, suddenly it becomes cheap and it would surely increase the rental value too.
It has an en-suite to the master bedroom on the top floor, a shower-room (shame it's not a bathroom) on the middle floor and a cloakroom downstairs. It has good sized rooms throughout and value could be added by installing a new kitchen (the shower rooms are already in decent condition). There is a large conservatory adding to the space downstairs, as well as double glazing and gas central heating. Plus it has the bonus of a garage.
I believe its prime location will help it do well in regards to future capital growth, and the ability to add value inside and create a fourth bedroom also means an anticipated rental value of £1,300pcm would provide a decent 4.5% yield.
If you are looking for an agent that is well-established, professional and communicative in Chichester, then contact us to find out how we can get the best out of your investment property.
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