About this investment

Greater Manchester, BL1  – 9% Yield

An off market block of 16 apartments

Property Fit were instructed to discreetly sell this off market apartment block, containing 16 fully let apartments.  We had several potential buyers for this block which we spoke to and presented the opportunity to.  A purchase was quickly agreed and legal work began.

 

The purchase is now complete and all 16 apartments are managed by our sister company @ThePlace.

In fact some of the apartments where rented out below market rate and as apartments come up for rent again they are being advertised at the correct market rent, further improving the returns for the landlord.

Transport links

Located just minutes away from major motorway links, these apartments offer easy access to all of Greater Manchester and beyond. With convenient proximity to the M61 and M60, residents can enjoy quick and seamless travel to and from work, play, and all the attractions the area has to offer.

Inside the Apartments

The Communal area are neat and tidy and have been well looked after.

Below is a typical apartment, all 16 are similar with modern kitchens and bathroom and laminate flooring lounge/Dining areas.

 

 

The Timescales

From initial viewing of the property to legal completion was 6 months for this property.  Longer than a single property as there was much more information to gather from the vendor including all the tenancy agreements, rent statements and legal packs for each apartment.  In addition we inspected every apartment for the buyer and reported on condition.

The Numbers

If you are interested in similar blocks of apartments please get in touch and register your interest.

Maintenance Required

Maintenance Costs:

No Maintenance was required on this block at all. The building and the apartments are in a great condition and have been well looked after.

Success Story in Numbers

Purchase Price: £1,360,000
Monthly Rental: £10,150
ROI: 13%