Serviced Apartment in Manchester
Property Type: Apartment
Location: UK
Asking Price: £200,000
Estimated Market Value (EMV): £230,000
Below Market Value (BMV): £30,000
Sourcing Fee: £4,500
Monthly Rent: £2,000
Annual Rent: £24,000
Gross Yield: 12%
Net Yield: 9%
ROI (Cash-on-Cash): 14%
Service Charges/Ground Rent (if leasehold): £2,000/year
Council Tax Band: E
Works Required
Refurb Cost Estimate: £15,000 (sum of all work items)
1: Kitchen refurbishment – £5,000
2: Bathroom upgrade – £3,000
3: Flooring replacement – £2,500
4: Painting and decorating – £2,000
5: Electrical updates – £2,500