Property Brief
Mid-terrace property held under a single freehold title, comprising two self-contained 1-bedroom apartments.

Flat 1 is located on the ground floor and benefits from exclusive access to a courtyard-style rear garden. Flat 2 is situated on the first floor.

Both apartments are tenanted and managed by Ultralets. This property offers a strong, fully managed turnkey investment opportunity with potential to increase rental income.

Condition Report 
The property is single-glazed throughout with a glass pane in the front door needing to be replaced. The decor, kitchen, and bathroom are slightly dated in apartment 1. The boiler is old but functional. Flooring is in okay condition. Apartment 2 is generally in good condition with a small area of damp near the kitchen window at the rear.

General Information
Apt. 1 (1-bed, ground floor)
Size: 40 sq m
Current rent: £395 pcm
Market rent: £425 pcm
Tenancy start date: December 2015

Apt. 2 (1-bed, first floor)
Size: 52 sq m
Current rent: £425 pcm
Market rent: £450 pcm
Tenancy start date: October 2020

Compliance
Apt. 1
Electrical certificate (EICR): Test date September 2020
Gas safety certificate: Test date September 2024
EPC Rating: E (47), potential D (66)
Council Tax Band: A

Apt. 2
Electrical certificate (EICR): Test date July 2020
Gas safety certificate: Test date September 2024
EPC Rating: E (47), potential D (66)
Council Tax Band: A

Figures
Estimated upfront costs:

Deposit = £22,500
Stamp duty = £4,500
Broker fee (Est.) = £495
Solicitor fee (Est.) = £1,200
Ultralets fee = £1,800

Total = £30,495

Current yield is 10.9% (or 11.7% at market rent).

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