http://www.rightmove.co.uk/property-for-sale/property-34536114.html
According to a talk I recently attended at Unipol, Woodhouse is becoming more and more popular with students. It carried the reputation of being more burglary prone than Hyde Park and Headingley, but apparently the police have done a lot of work in the area over the last 12 months which is paying dividends. Having said that, the nearer to Hyde Park you are, the better - so anything in the Delphs, Cliff Mount, Inglewood Terrace is good and I'd even venture as far as Lucas Place/Street. Anything further into Leeds still has the potential to stay un-let.
We manage a lot on those streets and they always go each year, nice and early for early to mid £70's per person per week. And just as importantly for landlords, the house prices are a lot cheaper than in Hyde Park (and rents only slightly cheaper), so the potential for big yields is definitely there.
This one on with Diamond needs some updating and I'd alter the
layout as well. It currently has the kitchen and one bedroom in the basement with a second bedroom with a very badly designed shower room and a living room on the ground floor. I'd put two bedrooms in the basement and a new kitchen and lounge on the ground floor. I'd then put Jack and Jill bathrooms on each floor - each servicing two bedrooms. The whole house needs stripping, skimming and decorating, and of course new carpets. That little lot'll probably cost between £40,000 to £50,000 to do.
Done at a high spec, potentially you could get £79pppw which equates to just under £25,000 per annum gross rent. As I touched on earlier, we let a 6 bed on the same street this year for £77pppw, so it is achievable.
So even if you paid full asking price (which I'm sure you'd never do!), with the refurb cost that's 11% return.
