Property Brief
6 tenanted apartments for sale on York Road, Market Weighton. The block consists of 3 x 1-bed and 3 x 2-bed apartments, each under their own freehold title. Each of the properties are tenanted, providing a great turnkey investment opportunity in a well-regarded town situated between Hull and York.

Flat 1: 2-bed - 45 sqm
Flat 2: 1-bed - 42 sqm
Flat 3: 2-bed - 45 sqm
Flat 4: 1-bed - 48 sqm
Flat 5: 2-bed - 45 sqm
Flat 6: 1-bed - 48 sqm

There are a further 4 houses and 1 apartment available to purchase as part of the whole development. Link to the entire block below:

https://www.ultralets.co.uk/investors/properties/103-105-york-road

Condition Report
Built in the mid-2000s, the building appears to be in good condition externally. Each property is tenanted and in varying levels of lettable conditions.

Rental Information
Flat 1
Current rent: £515 pcm
Market rent: £550 pcm

Flat 2
Current rent: £450 pcm
Market rent: £500 pcm

Flat 3
Current rent: £495 pcm
Market rent: £550 pcm

Flat 4
Current rent: £420 pcm
Market rent: £500 pcm

Flat 5
Current rent: £475 pcm
Market rent: £550 pcm

Flat 6
Current rent: £425 pcm
Market rent: £500 pcm

Total current rent: £2,780 pcm
Total market rent: £3,150 pcm

Tenancy agreement: ASTs in place for all 6 apartments

Comparables
Average price per apartment within this listing: £83,333

Prices of apartments on the market in Market Weighton on Rightmove as of 19th June 2024:

1-bed apartment - £100,000 - £110,000
2-bed apartment - £150,000 - £155,000

This would equate to a combined purchase price of £675,000+ based on comparable properties.

Compliance
Electrical certificate (EICR): All on file - available upon request
Gas safety certificate: All on file - available upon request
Council Tax Band: All A
EPC ratings: All C

Figures
Estimated upfront costs below:

Deposit = £125,000
Stamp duty = £27,500
Ultralets fee = £0 (No buyer fee applicable with this property purchase)

Total = £152,500 (not including solicitor and mortgage broker fees)

Current yield is 6.7% (7.6% at market rents).

Buyer Disclaimer - https://bit.ly/3CzncNu

To speak to our in-house Mortgage Advisor, call the office on 01482 562562 and ask to speak to Jack Newton.