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2 bedroom apartment for sale
Elmira Way, Manchester, Greater Manchester, M5
£175,000
Elmira Way, Manchester, Greater Manchester, M5
£175,000
Our Summary
- ) with modest ground rent and service charge * Reliable tenants in situ * Current Rent: £1,050 pcm (scope to increase to £1,150 pcm) Property Highlights Contemporary Living Space This stylish purpose-built apartment boasts an open-plan lounge and kitchen with modern fittings, two generous double bedrooms, and two sleek bathrooms, including an en-suite
Description
This stylish purpose-built apartment offers a spacious 700 sq ft of well-planned living space, comprising an open-plan lounge and kitchen, two generous double bedrooms, and two sleek bathrooms, including an en-suite. With an allocated parking space, this property is ideal for professionals or sharers. The apartment is in good condition throughout, with no extensions or major works required, reducing ongoing maintenance costs. The current tenants are reliable and on a rolling contract, generating a gross yield of 7.2% and a net yield of 5.8%. With a suggested new tenancy rent of £1,150 pcm, the expected gross yield increases to 7.8% and the net yield to 6.5%. The property also benefits from a 980-year lease, modest ground rent, and service charge, making it an attractive investment opportunity for those seeking a low-maintenance, income-generating property.