3 Bed House - Crayford - below market value.

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Browsing through the portals and this property caught my eye. It’s a 3 bed terraced house in Crayford, which is in need of improvements, on for £220,000. I believe this property offers good potential for an investor looking to snap up a property below market value.

Looking through the photos it's obvious the bathroom is dated and could do with replacing and also the Kitchen has seen better days. When replacing the kitchen, I would knock through the wall to the room on the side and create a much more desirable kitchen/diner and then partition the lounge creating a separate reception room.

With the refurbishment cost kept below £10,000 (which I would say is reasonable), you’re looking at ending up with a 3 bedroom, freehold house costing you less than £230,000 – and if you were to re-value the property then I would expect it to come back at around £250,000; the way the market is moving I wouldn't be surprised if, after the refurbishment period, it was more than this.

Once refurbished you would be looking to achieve around £1,150pcm which would net you a yield of 6%.

If you are interested then contact Livermores in Crayford.

Here is the property on Rightmove: http://www.rightmove.co.uk/property-for-sale/property-50535140.html

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