Overview
- Updated On:
- 31 October 2024
- Property ID
- 21382
- Not Available Garages
Description
Introducing a prime investment opportunity – a block of six apartments located in the vibrant area of Walsall. With a solid current rental income of £49,200 annually, this property presents an attractive proposition for both immediate returns and future growth potential.
Comprising of six distinct apartments, the property offers a well-balanced mix of accommodation. Among these units, four are designed as comfortable one-bedroom apartments, catering to the needs of individuals or couples seeking a cozy living space. Additionally, two spacious two-bedroom apartments provide ample room for families or those desiring extra space.
Each individual apartment comes with a current 125-year lease, however, what sets this property apart is the inclusion of the freehold within the sale. This strategic advantage not only ensures greater control over the property’s destiny but also opens avenues for potential future development, making it an even more compelling investment opportunity.
While the apartments are currently occupied by tenants, the seller offers flexibility in their approach. The option to purchase the block vacant is on the table, facilitating a smooth transition for new occupants or owners. Moreover, the seller is receptive to innovative solutions, such as exploring a creative buyout arrangement, adding an extra layer of flexibility for negotiation.
In summary, this block of six apartments in Walsall offers a secure rental income of £49,200, showcasing a balanced mix of one-bedroom and two-bedroom units. With 125-year leases in place for each apartment and the inclusion of the freehold, the potential for growth and development is significant. The property’s current tenancy status is adaptable, as the seller welcomes the possibility of a vacant sale or creative buyout. This is a remarkable investment prospect that combines stability, flexibility, and growth potential – all in a sought-after location.
Features
- Block of 6 apartments
- 4 x 1 bedroom apartments
- 2 x 2 bedroom apartments
- £49,200pa gross income
- Potential uplift to market rents of £52,800pa
- Open to selling vacant
