Property Overview
A fantastic opportunity to acquire a well-maintained 2-bedroom mid-terraced property situated in a popular and convenient location in Chadderton, Oldham. Ideal for buy-to-let investors seeking a turnkey asset with a long-standing, reliable tenancy already in place.
Investment Information
- Asking Price – £145,000
- Current Rental Income – £625 PCM / £7,500 PA
- Current Gross Yield – 5.2%
- Potential Rental Income – £850 PCM / £10,200 PA
- Potential Gross Yield – 7.0%
- Comparable Rental Properties – click HERE
Accommodation
This charming mid-terraced home offers:
- Spacious Lounge – Bright and comfortable living area.
- Fitted Kitchen – Practical layout with space for dining.
- Two Good-Sized Bedrooms – Perfect for a small family or couple.
- Family Bathroom – Functional and well-kept.
- Rear Yard – Low-maintenance outdoor space.
- Small Front Garden – Welcoming frontage with kerb appeal.
Additional Features
- Off-Street Parking via a rear-access alleyway.
- Leasehold Tenure – 872 years remaining with a nominal ground rent of £5 (not collected).
- Condition – Good throughout; recent improvements include roof repairs and new front and rear doors.
- No known structural or maintenance issues.
- Free from service charges.
Tenancy Details (Investment Highlights)
- Tenants in Situ – Long-term married couple in residence for over 10 years.
- Rental Income – £625 PCM / £7,500 PA.
- Tenancy Status – Rolling tenancy; 100% occupancy rate.
- Self-Managed – No agent fees.
- Tenant Profile – Excellent history, rent always paid on time, no complaints or arrears.
- Hands-Off Investment – Zero voids and minimal hassle.
Summary
An excellent investment opportunity with secure long-term tenants, no management fees, and a steady rental yield. This is a stress-free, income-generating property ideal for new or experienced landlords alike. With low outgoings and no required works, this home is ready to transfer to the next investor.
