Faraday Street, Ferryhill - 9% Rental Yield

£71000.00

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Faraday Street, Ferryhill - 9% Rental Yield

£71000.00

<< Back to property listings for sale

2- Bedroom Mid-terrace House Let to Supported Housing Company on a 6-Year Lease.

Property Details

The property is freehold.
The property briefly comprises of entrance to Lounge and Kitchen
Stairs to landing with 2 Bedrooms and Bathroom
EPC Rating currently a C
Property is in a good condition.
Bathroom will be redecorated
WIll be let on a 6 year lease as supported accomodation for £550pcm guaranteed rental for 6 years

Property Information Pack

Rental figures

This property will be let at £550.00 pcm on a 6 yr lease to a Supported Living Company which is £6,600 per annum, which gives a yield of 9%

The Benefits of 6 Year Lease with the Supported Housing Company

• 6 years Guaranteed Rent as per terms of the agreement

• They pay the council tax and gas / electric throughout the period

• Property returned in same condition as given except fair wear and tear

• They normally take out another lease at the end of the first one.

• Tenants are well supported and visited regularly and the property has full CTV which is monitored 24 hours per day in every house, in every room except for the bathroom.

• They have their own maintenance managers who deal with most issues

Additional Works for the Supported Housing Company (Included in the advertised price of the property)

The below work will be carried out to compy with the Supported Housing Company needs.

•Fire Doors & Smoke Detectors in every room

•Oven, Hob and Heat Detector in Kitchen

•Emergency Lighting in every room

•Power in the loft and Additional Power sockets at ceiling level for every room

•Digital Locks on Bedrooms Doors & additional security on Front and back doors

Refurbishment Work

We will ensure that this property is to a minimum of the Durham Decent Homes Standard and also to the current Selective licensing conditions (durham.gov.uk) and as part of the sale we will also provide a warranty to cover any snagging issues on these items free of charge within your first 6 months of ownership.

To find out more please click on the following link - Refurbishment Work.

Location

Ferryhill is a great area for rental properties and for first time buyers.

LINK TO GOOGLE MAPS

To find out more please click on the following link - High Yield Locations in County Durham