Ready to go 8 bed in Headingley with just under 10% yield

http://www.rightmove.co.uk/property-for-sale/property-48093829.html

This 8 bed on Estcourt Avenue is just about ready to go - not many improvements needed if any.  It's right at the bottom of Estcourt Avenue near Kirkstall Lane so nearly opposite the cricket ground.  

There's a load of communal space in the basement - great modern dining kitchen, cosy living room and it even has it's own dining room.  And the fact that all the communal space is in the basement means that none of the bedrooms are, which for an 8 bed is pretty unusual and should help it stand out.  

According to the details its rented out at £75pppw, but having seen it I think it should be achieving more - £79pppw minimum, which equates to just under £33,000 per annum.  Depending on what it goes for, that's a minimum return of 9.5% with potential to be a little more.

4 bed in the centre of Hyde Park with good potential yield

http://www.rightmove.co.uk/property-for-sale/property-47629141.html

This great little 4 bed came on the market just before Christmas.  It's on School View, just between the Norwoods and the Weltons, and just a couple of minutes walk from the Sainsburys on Brudenell Road, so in a fantstic location.

It needs some work - a new kitchen and main bathroom, carpets and re-decorating, and I'd be tempted to put a Jack and Jill bathroom on the top floor as well between the two attic bedrooms, so you'll be looking around £15,000 for a basic re-furb.  But if you could get it for under asking and do the work then it'll let all day long at a minimum £79pppw, so you'd be looking at around 10% return. 

Potential 11.5% yield in Pearson Terrace, Hyde Park

http://www.rightmove.co.uk/property-for-sale/property-48430481.html

Great house in a fantastic location.  It looks like it’s a repossession and when I last spoke with Mannings it sounded like they'd already had offers around £185,000, so if you want it you’d probably need to go somewhere near the asking price.  They may even end up inviting final offers.

It looks like it's an ex Morris property and currently doesn't have a great lay out so needs quite a lot of re-planning, and I'd suggest making it into a 6 bed en-suite.

I'd remove the bathroom and kitchen in the basement, and replace them with en-suite bathrooms for the two basement bedrooms.  Install a new kitchen on the ground floor, and remove both the chimney breasts up to the attic to make the upstairs bedrooms bigger, and open up the living room.

I'd also alter the layout between the first floor bedroom and bathroom to change into an en-suite bedroom, and put an en-suite in the other 1^st floor bedroom, and on the top floor alter the landing and entrance to both bedrooms to allow us to install en-suites in both bedrooms. 

With new carpets, decorating, blinds etc the cost of all this would be around £40,000.  

It’s in a great location and with the en-suites and re-furbished to a high standard, should command rent in the region of £85 per person per week (we have a 4 bed en-suite on Welton Place which we let for £85), so a gross rent of around £26,500 per annum.  If the total cost is around £230,000 (by paying asking price and including the re-furb) and we achieve a gross rent of £26,500 then you’re looking at a gross yield of 11.5% which in anyone's world is excellent.  

If you were then to remortgage and get a valuation of somewhere in the region of £260,000, a 75% mortgage would free up £195,000, leaving you only around £35,000 left in the property.