After a few weeks break, our Property of the Week is back!
Each week we have a look through Edinburgh and the Lothian’s property for sale market and highlight a buy to let investment opportunity which offers good value, potential for a decent yield and a safe bet for good long-term tenancies.
Our search is completely independent and we hold no affiliations with any of the selling agents that happen to be marketing our chosen property.
The property that we have selected this week is on our doorstep, in the popular seaside town of Musselburgh, East Lothian. Located just outside Edinburgh, Musselburgh boasts many great features, including; Golf Courses, The Brunton Theatre and the ever popular home of Luca's Ice Cream!
Musselburgh is becoming very popular for renters looking to escape the hustle & bustle of city centre living, however, wanting to remain in close proximity to the city centre for the daily commute. Musselburgh offers just that with excellent bus & train links into the city centre.
This weeks property is a 1 bedroom property located on King street, a short walk away from Musselburgh's High Street. Located on the top floor of a tenement building it offers an ideal living space for a single professional or couple, as some security conscious renters can be put off by ground floor properties.
The property appears to be in good condition throughout so is unlikely to need any extensive renovation works in order to get it up to standard prior to letting.The property benefits from Gas central heating and double glazing throughout and has ample parking available, which is located off the main street. In addition, the communal stair is very welcoming, with a large roof light flooding the hallway with light.
Due to the high demand and relatively low supply of rented accommodation in Musselburgh, we believe that there would be no issues in securing a tenant for this property, ensuring that void periods are kept to a minimum, making this a good, safe investment to be added to any portfolio, no matter what size.
We believe that this property would achieve a rental yield of between 6.3% and 7.8% yield.
The property is currently being marketed by Drummond Miller LLP and can be found by following this link: https://espc.com/property/6k-king-street-musselburgh-eh21-7ep/35671568?sid=289285
If you would like any advice on renting out your investment property or help sourcing your next property, please get in touch.