Property description
This investment property comprises five self contained flats that are let on individual Assured Shorthold tenancies.
The gross rental income is £23,880 per annum which represents at return of 7.4% .
The tenants are responsible for the payment of their own utility bills, council tax and broadband.
The building as been well maintained by the current owner and because the flats are self contained it does not require an HMO license.
Flat 1 - let at £395 pcm
Bed sitting room, kitchen/diner, shower room
Flat 2 let at £325 pcm
Small flatlet comprising bed sitting room, kitchen, shower room
Flat 3 - let at £ 470 pcm
Large flat comprising large Living room with open plan kitchen, bedroom, shower room
Flat 4 - let at £330 pcm
Open plan studio with separate shower room
Flat 5 - let at £ 470 pcm
A large flat comprising open plan living room/kitchen, Bedroom and shower ?room
The appeal of the property is that it produces a healthy return with little day to day input from the owners unlike student properties. ?The building has been managed by Falcon Lettings and the flats have all proven to be readily lettable which helps to guarantee a steady income stream.
FREEHOLD - because the property is divided into flats traditional buy to let mortgages are not available unless you are an established professional landlord.
Property Features :
- Five Self contained Flats
- Freehold Investment Sale
- Gross Income of £ 23,880
- Return of 7.4 % gross
- Well maintained and Managed Building