For all those cash buying investors out there, here is a bit of a gem in Croydon.
This Studio flat property in Croydon is being marketed by Mann and is up for only £119,000. Its got great links to London and Central Croydon, and is in a house conversion. I would expect this property to increase in value by at least double in the next 7-10 years.
My advice here is that it has been listed for quite a while (mid-November 2015), so either 1) the owner is not willing to reduce the price or 2) the Agent is not doing the best of jobs. If it is the second point, then you can most likely get a discount on this property.
But lets say you don’t.
Price: £119,000
Rent: 700pm
Yield: 7.06%
Note: it is CASH buyers only, because mortgage lenders will more than likely NOT lend on such a small property. You should check this with your mortgage broker however.
Link to Property: http://www.rightmove.co.uk/property-for-sale/property-37953819.html
