- Investment Oppourtunity
- Five Self Contained Flats
- Well Proportioned
- Original Features
- Beautiful Rear Garden
- Desirable Leafy Location
- Fully Tenanted
- Potential Gross Yield of 7.5%
- Low Maintenace Front Garden
- No Onward Chain
Full property description
Seeking an ideal investment property with a strong yield and a detached period property in a desirable location? Then this could be a great opportunity for you.
Situated in one of St. Leonards most favoured leafy streets, this attractive detached property sits neatly in a vast plot and has been sympathetically converted into five separate apartments spanning the three floors. All the units are occupied by tenants who are on an assured shorthold tenancy, which we have been managing for a number of years.
The ground is occupied by two one bedroom apartments, which both have their own entrance, with the rear apartment having use of the generous rear garden. There are a further two one bedroom apartments off the first floor landing, which are accessed from the communal entrance and a final fifth apartment occupying the second floor which has two double bedrooms and far reaching views.
Each of the five properties, benefit from wonderful original features, some include fireplaces, bay windows and intricate cornicing. The accommodation for all units are well proportioned and bright and airy thanks to the bay windows, high ceiling heights and neutral décor.
Collectively the apartments pay £3,085 per calendar month, which equates to a gross yield of 5.2%. If the rental rates were increased in line with current market values, then we would expect the rents to be £3,875 per calendar month which would return a gross yield in the region of 6.6%.
Living Room 16'4 x 18'4 - 4.99m x 5.58m
Bedroom 13'7 x 16'0 - 4.15m x 4.87m
Kitchen 8'1 x 9'7 - 2.47m x 2.91m
Bathroom 7'7 x 5'1 - 2.31m x 1.54m
Sitting Room 14'3 x 8'11 - 2.72m x 4.35m
Kitchen 13'3 x 8'8 - 2.65m x 4.03m
Bedroom 15'8 x 11'3 - 3.44m x 4.77m
Bathroom 5'9 x 4'8 - 1.76m x 1.43m
Entrance Hall 5'6 x 5'2 - 1.68m x 1.57m
Sitting Room 17'3 x 13'4 - 5.26m x 4.06m
Bathroom 7'11 x 9'3 [max] - 2.41m x 2.82m [max]
Kitchen 14'5 x 7'5 - 4.39m x 2.26m
Bedroom 14'6 x 9' - 4.42m x 2.74m
Entrance Hall 5'5 x 7'8 - 1.65m x 2.34m
Sitting Room 14'2 x 12' - 4.32m x 3.66m
Bathroom 9'4 x 5'2 - 2.84m x 1.57m
Kitchen 8'9 x 8'1 - 2.67m x 2.46m
Bedroom 14'4 x 13'4 - 4.37m x 4.06m
Entrance Hall 12'8 x 6'8 [max] - 3.86m x 2.03m [max]
Sitting Room 17'2 x 13'7 - 5.23m x 4.14m
Kitchen 16'9 x 10'1 - 5.11m x 3.07m
Bathroom 10'3 x 8'8 - 3.12m x 2.64m
Main Bedroom 14'7 x 15'5 - 4.45m x 4.70m
Bedroom Two 15'9 x 9' - 4.80m x 2.74m
Council Tax Band - A