This pair of properties look like they are being disposed of by the same owner, and represent great value for money albeit with short leases....
We have 2 lots of 2 bedroom maisonettes here, just north of Central Milton Keynes but in a residential area served by a number of local schools. Both offer spacious rooms, a quiet location and are in good order, just the one on Rowle Close needing some minor work and tidying up, but it does have the garden which would make it very popular with a young family on a budget. The one on Ormonde still requires a lick of paint here and there but is in far better condition, being first floor it has no garden but the rooms are light and spacious still.
Asking prices are £135k and £127.5k respectively, which is a reflection of the short leases (54 & 56 years), but from experience a new lease would cost around £19k today, and these are priced well below full market value of £165-170k in top condition with a full lease so there is a chance to increase value here. Rental values of around £795 PCM mean that yields here are excellent at 7.1-7.5%, so as an income generating machine these work very well indeed.
I will post what I consider to be the best buy to let deals across Milton Keynes and surrounding areas on this blog 3 or 4 times a week, irrespective of which agent they are being marketed with. Maybe you should subscribe and be kept up to date?
If you are thinking of getting into the buy to let property rental market as a new investor and don't know where to start, or you would like some impartial advice and guidance to get the best return on your investment, call me now on 01908 690700 or pop along and speak to me in person at our offices in Central Milton Keynes.
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