Freehold Investment Opportunity – Block of Four Self-Contained Apartments – Fully Let – £24,936 Per Annum
Description
An excellent opportunity to acquire a substantial freehold residential investment comprising four self-contained apartments, prominently positioned on the corner of Wharton Street and Errol Street in Hartlepool.
The property is arranged over three floors and comprises two studio apartments and two one-bedroom apartments, all of which are currently occupied by established long-term tenants. We are advised that all tenants are mature single occupants, are paying their rent on time with no current arrears, and wish to remain in occupation following the sale.
The current rental schedule is:
Studio Apartment – £455 pcm
Studio Apartment – £540 pcm
One-Bedroom Apartment – £520 pcm
One-Bedroom Apartment – £563 pcm
This provides a combined rental income of £2,080 per calendar month / £24,960 per annum.
Internally, the apartments provide self-contained living accommodation with kitchen facilities and shower/bathrooms. The building extends to approximately 123 sq m (1,324 sq ft) in total according to the supplied floor plan.
We are advised that the property has also benefited from a full roof replacement, providing a further attraction for investors.
A ready-made income-producing investment offering immediate rental income from four established tenancies, making this an attractive proposition for landlords and portfolio investors.
Tenure: Freehold
Current Rental Income: £24,960 per annum
Occupancy: Fully Let
Accommodation: 2 x Studio Apartments & 2 x One-Bedroom Apartments
Floor Area: Approximately 123 sq m / 1,324 sq ft
Sold Subject to Existing Tenancies
Tenure: Freehold
EPC Rating: 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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- 4 Bedrooms
- Unconditional (Immediate Exchange)
Call the team on 0191 908 9691 for more information
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