Offers in Excess of £140,000
Large terrace split into two flats generating £9,600 per annum.
TWO SELF-CONTAINED APARTMENTS FOR SALE. Great investment opportunity with high potential yield.
We are offering for sale a large bay fronted Victorian terrace house that has been converted into two separate, self-contained one bed flats located in a prime location just outside of the busy town centre and a short walk from the beautiful Mesnes Park.
Each has its own front door off a communal entrance hallway and their own services including electrics and heating (both are warmed by gas central heating with their own combination boilers).
The building benefits from double glazing and there is a small yard / garden to the rear.
The building could benefit from some cosmetic updating but the ground floor flat is well-presented. This is a large building which totals comfortably over 1,200 square with each flat featuring big rooms with high ceilings.
Both have tenants in-situ who are currently on rolling contracts paying £400 PCM (£9,600 per annum). This would generate an immediate 6.85% yield with scope to increase the rents and yield. 1 bed apartments rent in the local area for anything between £600PCM.
Attention buyers. Both flats are registered separately on the land registry with long-term leases but please note you are bidding for the whole building and effectively buying both together with the freehold. If they were split and valued individually we would expect them to be worth approximately £75,000 & £80,000 each (£155,000 combined|). If the flats were modernised this value could increase significantly.
Please note that we are advised that the property is freehold with each flat registered separately on long term leases. We advise this information is checked by any prospective buyers prior to exchanging contracts. Council tax bands are A for both flats. EPC rating to be confirmed for each flat.
|South Ribble Borough Council
|Chorley Borough Council
All council Tax Bandings are indicatory. Please check the precise banding for a property of interest.