All the units are currently let with separate shorthold tenancy agreements, generating an annual income of approximately £24,500, offering a gross yield of around 6%. This income could increase if all the rents were increased to current market levels. Upon inspection the apartments appear good - very good in presentation and the owners inform us the flats have been well maintained, and are all compliant with current Private Landlord regulatory requirements (at the time of writing). A single front door, communal hallway and staircase provides access to all the apartments. Apartment Two has direct access to the rear garden. There is a storage basement and rear garden with side access. The property faces a parade of shops and take away restaurants. Located on the Gold 63, 33, & 64 bus routes.
Front Outside Area
Patio/ bin store area with steps up to front door.
Hallway with staircase leading to landing areas, access to all the apartment, smoke alarm system, mezzanine landing with original stain glass window to rear.
Apartment One: Bedroom
12' 5'' x 9' 11'' (3.78m x 3.02m)
Double glazed window to rear, en-suite bathroom.
Apartment One: Kitchen/Living Area
15' 0'' x 14' 10'' (4.57m x 4.52m)
(15' MAX into bay). Bay window to front, fitted kitchen area,door to hallway leading to bedroom.
Apartment Two: Bedroom
9' 3'' x 10' 8'' (2.82m x 3.25m)
Double glazed window to rear, door to garden.
Apartment Two: Kitchen/Living Room
13' 11'' x 10' 6'' (4.24m x 3.20m)
Double glazed window to side, fitted kitchen area, step up to hallway and shower room.
Apartment Three: Kitchen/Living Room
14' 4'' x 10' 7'' (4.37m x 3.22m)
Windows to side, fitted kitchen area door to bedroom and hallway.
Apartment Three: Bedroom
10' 8'' x 9' 6'' (3.25m x 2.89m)
Apartment Four, Bedroom 1
13' 1'' x 10' 1'' (3.98m x 3.07m)
Double glazed window to rear, door to lobby and separate bathroom.
Apartment Four Bedroom 2
11' 2'' x 7' 11'' (3.40m x 2.41m)
(Measurements at the maximum) Window to front.
Apartment Four: Kitchen/Living Area
14' 9'' x 11' 8'' (4.49m x 3.55m)
Double glazed window to front, fitted kitchen area.
Apartment Five: Bedroom
11' 3'' x 12' 7'' (3.43m x 3.83m)
(Measurements max and into eaves). Window to rear, en-suite.
Storage cellar divided into two rooms with access from an internal staircase and double doors to garden. Max head height 6' but the majority of the basement is 5' 6''.
45' 0'' x 21' 0'' (13.71m x 6.40m)
(Garden measurements approximate) Walled garden with hard standing patio area, lawn area and side access,
The Vendors inform us:
- All the Apartments are self contained with their own utility supplies and the tenants are responsible for paying all their own energy bills.
-Every apartment has it's own GCH boiler with annual service history.
- All are currently rented (at the time of writing).
- All the apartments have Shorthold Tenancy Agreements in Place.
- The block has an appointed managing agent.
- The apartments range from good to very good in presentation and Flat 4 has been refurbished within he last 12 months.
- There is no onward chain from this sale.