- Potential Rental Income £1300pcm +
- Potential 16.42% Rental Yield +
- Residential Property Sale +
- Ground Floor Shop Unit +
- Upper Floor Flat +
- 38x19ft Garage/Workshop +
- HMO Potential +
- NO CHAIN +
SOLD VIA ONLINE AUCTION; fees apply
Welcome to this unique and versatile property that presents an exceptional investment opportunity for seasoned investors or a growing family, Situated in a prime location, this property, once a mixed commercial/residential space, is now classified as fully residential, offering the potential for multiple income streams. Property, shop and garage/workshop have all been previously rented out, Flat £600.00pcm, Shop £400.00pcm and Garage £300pcm, Giving a potential rental income of £1400pcm / 16.42% Yield.
Ideal HMO potential, 5/6 bedroom depending on planning permission and licencing, With an achievable income of £1750 to £2400pcm
Property Overview:
Ground Floor:
An inviting entrance hall welcomes you into the property. The spacious reception room, formerly a shop, provides ample space for various uses, a well-equipped kitchen is ideal for meal preparation and dining and a convenient ground floor WC adds to the property's practicality.
First Floor:
A generous living kitchen on the first floor offers an open-plan functional space, two comfortable double bedrooms provide excellent accommodation options, a family bathroom ensures convenience and comfort, An additional loft room provides flexibility for various purposes.
External Features:
A significant garage/storage/workshop unit at the rear of the property measures 38x19ft, offering ample space for storage with hot and cold plumbing, roller shutter, security doors and extractor fan .
Investment Potential: This property holds immense investment potential. With the right permissions, it can generate three separate rental incomes from the ground floor unit, first floor flat unit, and the spacious garage storage unit. The property's strategic location ensures a steady demand for both residential and commercial spaces, making it an enticing prospect for investors seeking a reliable source of income.
Location: The property is ideally located in Easington Colliery on a busy street. Its accessibility to the A19 and proximity to Peterlee make it an attractive choice for tenants or future buyers. Don't miss this golden opportunity to add a versatile income-generating property to your investment portfolio. Contact us today to schedule a viewing and explore the full potential of this property.
Council Tax Band: A
Tenure: Freehold