This freehold opportunity presents itself to an investor with all 4 properties having current rental agreements, giving a purchaser guaranteed income from the start of the transaction.
The property is being sold as freehold and the individual flats currently do not have leases attached to them. This is a unique opportunity for a buyer to create new leases as and when they feel suitable.
The building compromises of 4 units as per below:1.
Lower Ground Floor – 2 bedroom garden flat, 731 sq ft.2. Raised Ground Floor – 1 bed flat with a roof terrace, 470 sq ft.3. First Floor – 1 bed flat with no outside space, 466 sq ft.4. Top Floor Flat – 2 bedroom split level flat with a balcony, 857 sq ft.
Currently the four flats generate the current owner £73,112 per annum of rental income which equates to £6,093 per calendar month or £1,406 per calendar week.
At the asking price the property generates a gross rental yield of 3.6556% with the view to also install new leases. Continued...
Average weekly rent of nearby 6 beds.
Gross yield if rented for the average rent.
Property prices in this area have increased at this rate per year over the last 5 years.
If historic price growth continues, this property could be worth this much in 5 years.
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