Looking for an investment property to let out in Edinburgh? Well this one is certainly one to consider.
It is a 2 bedroomed flat on Gorgie Road. Gorgie Road, as the name suggests, is in the Gorgie area of Edinburgh which is fairly close to the City Centre but far enough away to get more for your money .... whether you are buying or renting.
The flat has lots of accommodation – a large combined lounge/kitchen, 2 large bedrooms, a bathroom and a box room.
Let’s do the maths.
McEwan Fraser are selling this flat for offers around £130,000 so let’s say it goes for £140,000. Based on our recent experience of renting this type of properties in this area, a rent of £800 pcm should be achievable on this property. So that gets you to a yield of 6.9%.
There are a couple of things to be aware with this property. The flat is on a main road – Gorgie Road – and some potential tenants are not that keen on properties on mains roads. Also, the flat is above a shop and this needs to be considered when taking out insurance.