Chelton Brown Ltd

Tel: 01604 603433

Email: sali.brown@cheltonbrown.co.uk

59 High Street,
Daventry
Northamptonshire
NN11 4BQ

Farnborough Drive, Daventry

£135,000

2 Bedroom Flat - Purpose Built

  • Two Bedroom Apartment
  • Large Master Bedroom
  • Modern Kitchen
  • Gas Central Heating
  • Double Glazed
  • Shower Over Bath
  • Allocated Parking
  • Popular Location

*** BUY TO LET INVESTMENT *** TENANT ALREADY IN PLACE AND SETTLED IN THE APARTMENT *** 12.48% NET RENTAL YIELD RETURN WHEN PURCHASED WITH A INTEREST ONLY MORTGAGE *** INCOME GENERATING FROM DAY ONE *** PURCHASE WITH AROUND £33,750 INITIAL INVESTMENT WITH THE BALANCE ON A BUY TO LET INTEREST ONLY MORTGAGE ***

*** TOP FLOOR APARTMENT *** TWO DOUBLE BEDROOMS *** ALLOCATED PARKING *** OPEN PLAN LIVING ROOM AND KITCHEN ***

This apartment is currently tenanted on a standard AST (Assured Shorthold Tenancy) until May 2022 at an agreed rent of £675 PCM. For that reason, the property is only available to property investors looking to acquire a BTL (Buy To Let) investment property. The current rent means that this property returns a very healthy 4.6% PA net yield return which could be improved even further if purchased using a BTL mortgage of up to 75% of the purchase price.
This apartment is a purpose built two bedroom top floor apartment in a block of just six apartments with allocated parking and on the edge of the popular Middlemore development.
Using a BTL mortgage, an investor could purchase this great investment with around a £33,750 cash investment with the balance amount taken on an interest only mortgage. This is an excellent chance to easily acquire a hands off investment that is income generating from day one due to having an existing tenant who is already settled in the property.
The property in more detail comprises of an entrance hall, lounge with semi open plan kitchen, two bedrooms and a family bathroom.
The popular Middlemore development is located on the northern tip of Daventry adjacent to Drayton Reservoir and open countryside. The development is well served with a general store and a public house. There is also a regular bus service into Daventry Town Centre which is less than 3 miles away.
The ground rent and service charge on this apartment total around £1,860 PA.
EPC Rated – C
Leasehold

Approach

Entrance Hall

Gas central heated radiator, double glazed window, storage cupboard and doors to:

Lounge/Diner

Lounge/Diner 3.45m x 4.55m (11'4" x 14'11")a good sized lounge/diner with Juliette balcony to front of block, gas central heated radiator and arch leading to the kitchen.

Kitchen

KitchenFitted with a range of wall and base units, sink with tap over, oven hob and extractor. Double glazed window.

Bedroom One

Bedroom One 2.93m x 4.15m (9'7" x 13'7")Double glazed door with Juliet balcony and a gas central heated radiator.

Bedroom Two

Bedroom 2 2.42m x 3.50m (7'11" x 11'6")Double glazed window and a gas central heated radiator.

Bathroom

BathroomBathroom with shower over, wash hand basin, W/C, double glazed window and a gas central heated radiator.

Views

Views

Outside

There is an allocated parking space.

Energy Efficiency and Environmental Impact

Energy efficiency chart

Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.

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