Off-Market Tenanted Manchester Apartments with 15% ROCI

by Property Hotspots

14:33 PM, 31st January 2014
About 6 years ago

Off-Market Tenanted Manchester Apartments with 15% ROCI

Make Text Bigger
Off-Market Tenanted Manchester Apartments with 15% ROCI

The development is perfectly situated within touching distance of the M60 Ring road, Manchester City Centre and Media City at Salford Quays.  This off-market deal has been sourced from a bank who is looking to exit the apartments very quickly.

Investment Summary

• 15.1% Return on cash invested with a 30% deposit and 4% mortgage rate  • Fully tenanted apartments  • Yields almost 9%    • Zero void periods  • 10 minute commute into Manchester City Centre  • 5 minute commute to Media City  • 5 minute walk to tram stop  • Highly desirable block

Financial Example – Two Bedroom Apartment
Purchase Price £75,000
Deposit required  at 30% £22,500
Mortgage required at 70% £52,500
Rental Income £6,600
Interest payments on mortgage (based on 4% interest) £2,100
Estimated annual running costs (ground rent, service charge etc) £1,100
Estimated net profit PA £3,400
Return On Cash Invested 15.1%

This arrangement is not available on the open market and for more information on prices, discount and rental income please complete the form below the pictures.

Exterior

SEQURE PIC 1

Interior

Sequre pic 2

 



Comments

New national model for shared ownership

The Landlords Union

Become a Member, it's FREE

Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agents

Learn More