'Ready to go' investment - block of 5 apartments (all currently let -March 2023)
Also includes a large garage with adjacent workshop/store - potentially lettable or convertable (subject to relevant planning)
TWO 2 bedroom flats (one being a 2 storey maisonette) & THREE 1 bedroom flats
Rear courtyard/parking area for several cars
Great location - steps from the town centre, shops, pubs, restaurants + Morrisons supermarket
Also within a ten minute walk of the beach and sea front
Viewings now available - strictly by appointment - please allow at least 48 hours notice for viewing appointments
Currently offering approx 10% gross yield
Council Tax Band A
Freehold
A excellent investment opportunity - this successfully run block of flats offers an investor the chance to buy a ready set up and running block of 5 self contained apartments PLUS it includes a Garage/workshop with further letting potential. Currently offering around a 10% yield . The location is ideal - just a couple of minutes walk from the town centre and 30 seconds from Morrisons. The whole property consists of a main building with three ONE bedroom flats & a very large TWO bedroom maisonette. At the rear there is a large garage + workshop (suitable for various uses) and a TWO bedroom flat above. All apartments have their own electric heating (except the maisonette which has its own gas central heating) and double glazing. There is an area of hardstanding/parking at the rear and an enclosed courtyard frontage. All the flats are occupied (as of 2023) on assured shorthold tenancies and the new owner will retain all rights and responsibilities of the landlord on completion.
| Main Building | With a front porch/lobby and further secure door to: Main hallway - with emergency lighting, smoke alarm and stairs leading to the first floor landing. The ground floor hallway provides access to Flat One and the Maisonette | |||
| Flat 1 (ground floor) | Entrance Lobby Lounge/Kitchenette 5.26m x 4.29m (17'3" x 14'1") maximum Bedroom 3.96m x 4.37m (13' x 14'4") max into recess Shower Room | |||
| Maisonette | Front/Dining Room 4.60m x 4.44m (15'1" x 14'7") Lounge 4.44m x 4.09m (14'7" x 13'5") Kitchen 5.33m x 2.95m (17'6" x 9'8") Rear entrance lobby Bathroom 2.92m x 1.83m (9'7" x 6') Stairs & Landing Bedroom One 3.43m x 2.97m (11'3" x 9'9") Bedroom Two 3.66m x 2.16m (12' x 7'1") | |||
| Main Stairs & Landing | providing access to a communal storage cupboard and to Flats 2 and 3 | |||
| Flat 2 (first floor) | Lounge Kitchenette Bedroom Shower Room | |||
| Flat 3 (first floor - front) | Hallway Kitchen 3.53m x 3.23m (11'7" x 10'7") Lounge 4.57m x 3.35m (15' x 11') Bedroom 4.14m x 2.92m (13'7" x 9'7") ext to 14'9 Shower Room 1.40m x 1.75m (4'7" x 5'9") ext to 8'10 | |||
| Flat 4 (accessed separately from the rear) | Flat 4 is accessed from the rear of the property with its own independent external door:- Ground floor Lobby/Hallway with stairs leading to the first floor First floor landing/hallway Lounge/Diner 4.42m x 4.22m (14'6" x 13'10") maximum Kitchen 2.31m x 1.90m (7'7" x 6'3") Bedroom One 4.42m x 2.51m (14'6" x 8'3") Bedroom Two 2.29m x 2.26m (7'6" x 7'5") Shower Room | |||
| Garage & Workshop | Positioned at the rear of the building, (underneath Flat 4) with a full sized up and over door and a separate personnel door at the side. Divided into two large rooms with electric connected to both. Currently used as storage and workshop. Room One = 6.20m x 4.57m (20'4" x 15') Room Two = 4.04m x 3.56m (13'3" x 11'8") | |||
| EPC's | Flat 1:- Flat 2:- Flat 3:- Flat 4 (24A):- Maisonette:- | |||
| Council Tax Bands | Flat 1:- A Flat 2:- A Flat 3:- A Flat 4 (24A):- A Maisonette:- A | |||
| Current Rental Income | As of Nov 2023 the rental income equates to £29,400 | |||
IMPORTANT NOTICE
Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.
