Property description
INVESTMENT OPPORTUNITY - Converted semi-detatched property comprising 2x 1 bed flats and 2x 2 bed flats. 1 bed flats let at £450 pcm each and 2 bed flats let at £550 pcm each. Total £24000 rent pa. Comes with Planning Permission to convert the 2x 2 bed flats into 4x 1 bed flats making a total of 6x 1 bed flats. Space for 3 cars at the rear.
High potential to sell the flats individually after construction for approx £75,000 - £85,000 each. Anticipated that GDV after construction will be approx. £480,000. First time buyer market is buoyant especialy with the Help To Buy Scheme now taking force.
Rental value of each flat after construction is £450 - £475 pcm. On an annual basis this will generate £32,400 - £34,200.
Attached is a quote for carrying out the construction works from a local construction firm*.
*Piccadilly Property Management Ltd takes no responsibility whatsoever for the information contained on the construction quote. Interested parties are advised to carry out their own due diligence.
NoticePlease note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.
Property Features :
- INVESTMENT OPPORTUNITY WITH PLANNING PERMISSION!!!
- Currently 2x 2 bed flats and 2x 1 bed flats earning £24,000 pa
- Can be converted into 6x 1 bed flats earning £32,400 - £34,200 pa
- Flats can be sold individually for £75,000 - £85,000
- Flats ideal for First Time Buyers
- Construction Quote Provided