Great freehold investment in Plymouth - 11.69% yield

I have just come accross this great freehold investment in Wyndham Street West, in Stonehouse, Plymouth. The property is being marketed by Swift. The property itself is a large terraced property which is arranged as 4 flats. The property produces an income of £10,000 currently.

Some of the flats are let out on very low rents and one flat is vacant. This would suggest that the properties maybe could do with some upgrading. The rents are on the very low side and do not reflect the current market rents, maybe becuase of the standard of the properties. if the flats were brought up to a current standard the one bed flats should let for around the £450, the studio flat £400 and the two bed in the region of £550. This would make the monthly rent £1850 a month and a yield based on purchase price of 11.69%.

More details can be found on Zoopla. http://www.zoopla.co.uk/for-sale/details/34149290

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