Overview
- Updated On:
- 3 September 2024
- Property ID
- 21080
- Not Available Garages
Description
A substantial building, converted into 4 good size apartments and rented out to professionals, the property comprises of a grand and well maintained hallway with all the original features, 3 x one bedroom apartments and 1 x 2 bed 2 bath apartment.
There is a large basement that is ideal for storage and to the back there is a large garden with a separate entrance to the rear of Flat 4 which also has a entrance in the house also. At the back of the garden there is an interesting building which is used as storage now, and is in the form of a garage with a metal roll up entrance, this is a 2 storey building and although no permissions have been asked, it seems prime for some more accommodation to boost you income.
There is a regular handyman who looks after all aspects of the property maintenance and his number will be passed onto any new freeholder for an easy transition.
Purchase price £345,000
Rent roll per annum £27,660
Return on purchase price – 8%
Flat 1 – £525 pcm – tenancy started Sept 21
Flat 2 – £495 pcm – tenancy started March 21
Flat 3 – £685 pcm – tenancy started August 22
Flat 4 – £600 pcm – tenancy started October 23
The rents have just recently been increased and are slightly below the going rate, by circa £50 pcm for each flat –however the strategy of the seller has always been good, easy and hassle free tenants who look after their homes, meaning the seller has kept the rents slightly lower to avoid voids over the long term by chasing slightly higher rents.
Features
- Substantial building converted into four spacious apartments, rented to professionals.
- 3 x one-bedroom apartments.
- Large basement ideal for storage.
- Unique two-storey garage with potential for additional accommodation (subject to permissions).
- Yield: 8% return on investment.
- Regular handyman maintains the property for a seamless investment experience.
- Features a grand hallway with original features.
- 1 x two-bedroom, two-bathroom apartment.
- Expansive garden with separate rear entrance for Flat 4.
- Rents are slightly below market rate to ensure long-term occupancy and minimal hassle.
- Current annual rent roll: £27,660.
Additional Info
