Monday, 27 August 2018

BUY-TO-LET DEAL OF THE WEEK: 1 bed flat in Chichester, £175,000, 5.0% yield

1 bed flat, Somerstown, Chichesterkitchenlounge

1 bed flat in Chichester
Listed for sale on 27/06/18 @ £187,500
Now = £175,000
Rent = £725pcm
Yield = 5.0%

Last sold for £128,000 in 2005 (+37% in 13 years)

For someone on a budget this one-bedroom apartment close to Chichester's city centre could be worth a look.

Somerstown is a busy estate just to the North of the city centre and popular amongst landlords, who often rent the larger houses out to students. This one-bedroom apartment however is likely to suit a young professional or a couple.

It is a good size (it could even be turned into a two-bedroom with some smart reconfiguration) but as it is it's likely to rent for £725pcm, including the garage it comes with nearby.

It's in good condition, including having double glazing and gas central heating, which means there's minimal money needing to be spent on it and it'll attract tenants pretty quickly. It also has an extended lease so there isn't that issue to deal with anytime soon (be sure to check the ground rent and service charge demands!).

It's been reduced by £12,500 since being listed a couple of months ago so it is now available at £175,000. That's just 37% more than it was last sold for in 2005 whereas property prices in Chichester are up 58% since then.

The property is on the market with Purplebricks and full details can be found on Rightmove via the following link:

If your are looking for an agent that is well-establishedprofessional and communicative in Chichester, then contact us to find out how we can get the best out of your investment property.

E-mail me on or call 01243 624 599.

Don't forget to visit the links below to view my previous buy-to-let deals and Chichester Property News articles:

c/o CRJ Lettings, 30B Southgate, Chichester, West Sussex, PO19 1DP

Chichester rental valuation

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