A few weeks ago on the Penicuik Property Blog we had a stone build flat that in Auchendinny .... today we have stone built flat in the heart of Penicuik which is also an uncommon occurrence in and around Peniciuik!
This property is a one bed, ground flat at 41 Cranston Street in Penicuik. Cranston Street is off Wilson Street between the back of the post office and the Craigiebield Hotel.
The flat is in a stone build block. The property has been well maintained and it has a lounge, a modern kitchen, a double bedroom and a wet room along with double gazing and gas central heating. However, an older person has been living in the flat and you will need to neutralise some of the decor and the carpets. and it is in a ready to rent condition having been well maintained.
Normally, I would comment negatively about there only being a shower – you will have heard me on this topic before, everybody wants a bath but nobody used a bath! – but in this case I am less fussed as this flat is not going to be a family home, rather it will attract young professionals or older people who are often less fussed by a bath.
This flat is on the market with Allan McDougall for offers around of £90,000 so let’s say you get it for £90,000. Adding £4,000 on for decor and carpets gets you to a total spend of £94,000. The right tenants should pay £525 for a flat like this so that’s a yield of 6.7% which is good for a stone built property in this part of town.
We hope you find our posts useful. If you want some buy to let advice on this property, another property you have in mind or anything else property related, come and see us in our office (6 Bank Street, Penicuik), call us (01968 674601) or email either of us (email@example.com).