Behind market value four bedroom property pre-approved for long term contract.
This four bedroom upper maisonette is situated on a popular residential street in Gateshead. It is currently on the market for £85000 however we have had an offer accepted at £72000. After minor improvements and once tenanted we would expect a valuation of £90000. The property last sold for £82000 in 2004. It comes pre-approved to be used to house asylum seekers for a Government Contract operated by G4S. This currently runs until 2021. Rent on the property is set at £743 pcm and is reviewed yearly. Internal maintenance is covered as part of the contract as are all bills. This property is perfectly suited to be purchased on a BTL mortgage with a 25% deposit. This route maximises income and gives a return of close to 20%. positioned over two floors and briefly comprising: first floor landing, lounge with feature fire surround, fitted kitchen, bathroom/wc and two bedrooms. To the second floor there are a further two spacious rooms with velux style windows. Ideally positioned for access to Gateshead, local shops and amenities as well as providing access to road and transport links for commuting purposes.