- Being Sold via Secure Sale Online Bidding. Terms & Conditions apply. +
- Two-Bedroom Mid-Terrace House +
- Popular Residential Location Close to the Town Centre +
- Tenant In-Situ Paying £475 pcm +
An attractive buy-to-let investment opportunity offered for sale by auction, located on Haycroft Street in a well-established residential area of Grimsby.
The property is well positioned for the town centre, local shops, amenities and public transport links, underpinning strong and consistent rental demand.
The accommodation is well presented throughout and comprises an entrance hall, lounge, separate sitting/dining room, a smart fitted kitchen with modern units, rear lobby and a ground floor W. C. To the first floor are two well-proportioned bedrooms and a modern bathroom. The property benefits from modern décor, offering a clean and contemporary finish.
The property is currently let, with the tenant wishing to remain in occupation, producing an income of £475 per calendar month (£5,700 per annum). Comparable properties of this type and location would typically command rents in the region of £575–£600 per calendar month, indicating clear scope for rental growth, subject to statutory requirements. With a starting bid price of £60,000, the current rent a gross yield of approximately 9.5%.
On reversion to market rent, the potential gross yield increases to approximately 11.5%–12.0%, making this a particularly attractive investment proposition.
The property is offered for sale by auction and would make a strong addition to an existing portfolio.
Council Tax Band: A
Tenure: Freehold