Apartment with good return, £115,000

I'm in conversations with a landlord at the moment about his 2 bed apartment which I suspect will soon be on the market for sale due to a change in his circumstances. If you're buying for monthly return you'll end up with around 6% AFTER costs here which isn't half bad in this market.
I await exact details but am expecting the following to be correct:

• 2 bed ground floor flat in small block in Ryehill, NN5.
• £115,000 and I suspect no offers will be needed.
• over 100 years on the lease and annual charges around £800 all in. 
• tenanted already at £650PCM - we manage the tenancy so that's correct!
• property has been much improved by the current owner including a new kitchen, boiler, fuse board, carpets, decoration.

Why buy this?

There are several reasons why some people will be attracted to properties like this. I've picked 5. 

1. It's very lettable - this type of property goes empty between tenancies for a few days at the most. 
2. It's in good condition - the current owner spent money on it when he bought it so 'big ticket' items like kitchens and boilers have already been attended to.
3. It's a modernish property so won't suffer from the same gremlins as older properties, such as rising damp. 
4. The freeholder is the Local Authority which means service charges tend to be more reasonable in the long run. 
5. It would be hard to find a better return for a £115k investment in the current market - anything else you can buy in that price range isn't going to deliver as much income. In fact at 6% after service charges it's about the best return you'll get in Northampton currently, without going down the riskier HMO route. 

Email me quickly if interested - will go on general sale by the end of the week. richard.baker@belvoir.co.uk.