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1 bed semi-detached house
Dorset Avenue, Chester Le Street DH3
£95,000
Dorset Avenue, Chester Le Street DH3
£95,000
Our Summary
- *Investment Opportunity*
- Currently tenanted for £550 p/m, with an agreed rent increase to £600 p/m, this property offers solid rental returns and growth potential
Description
This 3-bedroom, 1-bathroom freehold property in Britley, DH3, offers a solid investment opportunity with a long-term tenant of 15 years, who is happy to accept a rent increase to £600 per month. The property currently generates £550 per month, with potential for further yield growth to £650 per month. With a purchase price of £100,000, the property provides a strong gross yield of 7.2%. As a freehold property, there are no additional ground rent or service charges, ensuring lower overheads. The tenant's proven track record and willingness to accept the rent increase provide confidence in a stable investment, making this property an ideal choice for investors seeking a reliable, long-term rental income with minimal hassle.