Buy to let *Top 10* purchases April 2019

29 April 2019 by Paul Hubbard

10: 33 Stevens Street, Lowestoft NR32 2JE

4 Bedrooms, end terraced, currently let out at an undervalue rent of £500pcm yielding 4.8%. True rent value £625 so opportunity to increase yield in the future.

£ 125,000

4 Bedrooms

  • Investment opportunity £575 PCM (5.52% yield)
  • Buy to let - Offered with tenant in situ
  • Chain free
  • Four separate bedrooms
  • Off road parking

9: 29 Horn Hill, Lowestoft NR33 0PX

3 Beds off the landing, newly refurbished and just reduced from £125k to £110,000 as seller is keen to move on. This has a potential of £575pcm, yield of 6.27%. A safe bet for a hands off landlord.

Offers in excess of £ 110,000

3 Bedrooms

  • Newly Refurbished Throughout
  • New Gas Combi Boiler
  • New Kitchen and Bathroom
  • 3 Beds Off Landing
  • Tenanted achieving £575pcm (6.27% Yield)

8: 29 Cambridge Road

Large 3 Bed in very good condition, let for £650pcm (yield 5.38%) to good tenants keen to stay (managed by ourselves).

£ 130,000

3 Bedrooms

  • Three Double Bedrooms
  • Large Kitchen
  • Private Rear Garden
  • Hall Entrance Terrace Home
  • Close To Local Amenities

7: 50 Hervey Street

3 Bed end terraced, let out for years, modernised throughout and ready to go. Chain free, and would let for £650pcm , yielding a solid 6%

Offers in excess of £ 130,000

3 Bedrooms

  • Ideal investment opportunity
  • Chain free and ready to go
  • Three separate bedrooms
  • Opportunity to really make it your own
  • Neutral décor throughout

6: 19 Trafalgar Street

let at £475pcm which is 6.33% yield

£ 85,000

2 Bedrooms

  • Ideal Investment (6.33% yield)
  • Close To Lowestoft Town Centre
  • No Onward Chain
  • Gas Combi Boiler
  • Two Bedroom Terrace Home

6: 46 Trafalgar Street

let at £475pcm which is 6.33% yield

Offers in excess of £ 90,000

2 Bedrooms

  • Ideal investment opportunity - Could achieve £475 PCM (6.33% yield)
  • Two double bedrooms
  • Chain free and ready to go
  • Separate lounge and dining room
  • Convenient location

5: 37 Crown Street West

Similar to above, but this is already let for £475pcm (6.34%)

£ 85,000

3 Bedrooms

  • Chain Free
  • **Great Investment 6.7% yield**
  • Central Location
  • South Facing Courtyard Garden
  • Currently Tenanted At £475pcm

4: 71 Nelson Road Central

Hall Entrance with 3 beds off landing, let to tenants who have been there since 2014 for £540pcm, a high 6.48%. Excellent value investment.

Offers in excess of £ 100,000

3 Bedrooms

  • Investment opportunity £540 PCM (6.48% yield)
  • Offered with tenant in situ
  • Chain free
  • Three separate bedrooms
  • Open plan lounge/diner

3: 24 The Anchorage, Whapload Road

End terraced by the sea, 2 bedrooms and 2 bathrooms including one ensuite. Will comfortably let at £495pcm which is 6.6% yield

£ 90,000

2 Bedrooms

  • Share of the Freehold
  • Allocated parking space
  • 2 beds + 2 baths
  • Secluded location
  • Ideal investment

2: 30 Pakefield Road, Pakefield

For those with a larger budget, this is a no brainer. 2x 2 beds and a one bed apartment, they are all in very good condition (one just fully refurbished) they are in an excellent location and have good expected capital growth. All let for £1550 per month total, yield 6.41%!

£ 290,000

5 Bedrooms

  • Investment Opportunity
  • Three Separate Self Contained Apartments
  • Prime Pakefield Location with Close Proximity to Beach
  • Newly Renovated First & Second Floor Apartments
  • Newly fitted UPVC Double Glazed Windows

And the number 1....

Stanley Street Conversion NR32 2DY

OIEO £90,000, £95,000 & £110,00

These are new to market and are quiet an opportunity, it’s a period conversion and I doubt you will see another like it, split into 3 spacious 1 bed 2 story maisonettes. There is future potential of splitting the huge bedrooms into 2 bedrooms, increasing the value and rent. Currently would let from £500-£525pcm 6%+, if split into 2 beds the rent would probably increase to £550-£575pcm which would be 7%+! And for a newly renovated character property, exceptional value. That is why this is my number 1 recommendation!

**Wild Cards**

We all love a wild card, so I thought I would give you two!

Garages, Garden Villas

For cash buyers this is worth a look at. There are 23 garages on site which works out at £4,347 per garage which on its own is about half of what we sell single en bloc garages for. You could let these potentially for £50 each per month which would be a huge 13.8 %! Obviously a bit more work to rent 23 garages than a house but there is a flip side to this, there is planning for 3 houses with a GDV of around £500k and if you expected to be able to do the build for £250k that’s a good margin.

£ 100,000

0 Bedrooms

  • Planning Permission Granted
  • Currently Consisting of 23 Lock Up Garages
  • Proposals For 3 x Three Bedroom Homes
  • Popular North Lowestoft Location
  • Chain Free

6 Suffolk Road

Commercial purchase with a massive yield, set on 3 floors, the top 2 are currently let for a combined £1200pcm and the current freehold owner would rent back the remainder of the building for £10k a year for a minimum of 4 years. So that’s a potential of £24k pa or 12%! Not bad at all.

£ 200000

Floor Area
  • 146.82 sq m
  • 1580.357 sq ft