3 bedroom house for saleAvon Way, Colchester
Sold STC £115,000
Full descriptionCASH BUYERS ONLY - An ideal investment opportunity offering a three bedroom flat located to the Eastern side of Colchester within close proximity to The University of Essex. The accommodation consists of three bedrooms, kitchen/lounge area, bathroom, communal student games room and enclosed off-road parking. The property is to be purchased with tenants in situation occupied as student accommodation with on-site management company and receives a yearly net income of approximately £8,610 which offers an approximate net annual yield of 7.5%.
Agents Notes - The current income and expenditure of this property supplied by the current vendor is as follows:
Rental expected income: £13,258 per annum
Management fee (8% plus VAT): £1272 per annum
Service charge estimate (current plus 2%): £3,038 per annum
Ground rent: £250 per annum
Total expenses estimated: £4,560 per annum
Net income approximately: £8,728 per annum
Net yield approximately: 7.5%
One allocated parking space.
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