Portfolio of six leasehold flats in Washington, Tyne & Wear, currently income-producing (c.£1,590 pcm incl. garage) with value-add potential
Description
LOT – PORTFOLIO OF SIX LEASEHOLD FLATS – WASHINGTON, TYNE & WEAR
Guide Price: £60,000 – £80,000
An opportunity to acquire a portfolio of six leasehold residential units located in Washington, Tyne and Wear. The portfolio comprises a mix of one- and two-bedroom properties, several of which are income-producing, offering both immediate return and asset management potential.
72 Neville Court, NE37 3DY
Vacant One-bedroom flat. There is separate garage currently let at £35 per calendar month.
100 Kenilworth Court, NE37 3EQ
Two-bedroom flat currently tenanted at £375 per calendar month.
104 Kenilworth Court, NE37 3EQ
Two-bedroom flat with an additional small room adjoining the principal bedroom, suitable as a nursery or study. Currently tenanted at £420 per calendar month. It is understood that this property has recently undergone full double glazing replacement.
99 Collingwood Court, NE37 3ED
One-bedroom flat presented in good condition, having undergone a refurbishment in recent years including kitchen, bathroom, and double glazing. Currently tenanted at £350 per calendar month.
114 Collingwood Court, NE37 3EF
Vacant Two-bedroom maisonette with its own private entrance.
115 Collingwood Court, NE37 3EF
One-bedroom flat currently let at £375 per calendar month, with the tenant due to vacate on 21st May.
Investment Summary
Portfolio of six leasehold residential units
Current rental income (partially let): approx. £1,555 per calendar month (excluding vacant/owner-occupied units)
Additional income from garage: £35 per calendar month
Scope to increase rental income and letting of vacant units
Asset management opportunity with value-add potential
Attractive guide price reflecting condition and upside
Tenure: Leasehold (all units)
Legal Pack: Available upon request
A compelling opportunity for investors seeking a multi-unit portfolio with existing income and significant potential for enhancement and yield growth.
Tenure: Leasehold
EPC Rating: various. see legal pack
Important Notice to Prospective Buyers
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Administration Charge
£3,600 inc vat payable upon the fall of the virtual gavel
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- 9 Bedrooms
- Unconditional (Immediate Exchange)
Call the team on 0191 908 9691 for more information
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