- Investment Opportunity +
- Two - One Bedroom Apartments +
- Gross Yield 9.8% (Exc. utility bills) +
- ROI: 13.8% +
- Projected Cashflow PCM: £507.50 +
- RENT: £1,025pcm (Exc utility bills) +
- Both Apartments Tenanted +
- Close Proximity to Local Amenities on Princes Avenue and Chanterlands Avenue +
We believe this property works best with a mortgage at 75% LTV or less based on a mortgage interest rate of 4%.
The property consists of two, one bedroom flats on a single freehold. It was converted around 2005 when planning permission was sought to convert from a residential property. Historically being an end terrace on the corner of two streets this property was once a shop but was converted around 1989 to a single residence which the current owner subsequently divided into two smaller units for the rental market. This helped to significantly increase the income and returns on the property.
The front door of the property leads to Flat A which, with the exception of the private hallway, is on the first floor of the property. The property is spacious offering a good sized front room, double bedroom, kitchen with space for small dining table and bathroom with shower over bath.
Flat B is accessed from the rear of the property and as such benefits from the enclosed yard space which provides screened outside space for the occupant of the flat.
The external UPVC door enters straight into the modern dining kitchen which is bright and spacious. There is a utility cupboard and shoe storage alcove to one side and a door leads into the modern bathroom with shower over bath.
Through another door from the kitchen diner there is a good sized lounge with under stairs space for storage and access to the double bedroom which features built in furniture.
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Buyers premium of £3,000 + VAT - payable in two parts:
- A non-refundable reservation fee of £1,500 plus VAT
- The balance is due upon legal completion (which is collected and paid by the buyers solicitor)