Property Brief
Block of three apartments under a single freehold title. The building consists of 2 x one-bed apartments and 1 x two-bed apartment. Each apartment has separate utilities as well as central heating.

Total rental income of £1,500 pcm (£18,000 pa).

Condition Report 
The overall condition of the building is in fair condition. Communals would benefit from light cosmetic works and the garden is overgrown. Each of the apartments are of a basic spec with some varying work needed.

Apartment 1 - No immediate works required.

Apartment 2 - Minor black mould in the bathroom - the tenant keeps on top of this. Previous leak affecting the kitchen ceiling has been plastered but not decorated.

Apartment 3 - No immediate works required.

General Information
Apt 1 (1-bed)
Size: 38 sq m
Current rent: £450 pcm

Apt 2 (1-bed duplex)
Size: 53 sq m
Current rent: £475 pcm

Apt 3 (2-bed duplex)
Size: 64 sq m
Current rent: £575 pcm

Compliance
Apt 1
Electrical certificate (EICR): Test date March 2024
Gas safety certificate: Test date January 2025
EPC Rating: E (42), potential C (77)
Council Tax Band: A

Apt 2
Electrical certificate (EICR): Test date July 2023
Gas safety certificate: Test date March 2025
EPC Rating: D (57), potential C (72)
Council Tax Band: A

Apt 3
Electrical certificate (EICR): Test date March 2024
Gas safety certificate: Test date March 2025
EPC Rating: D (61), potential C (74)
Council Tax Band: A

Figures
Estimated upfront costs below:

Deposit = £34,375
Stamp duty = £7,125
Broker fee (Est.) = £495
Solicitor fee (Est.) = £1,400
Ultralet's buyer fee = £2,475

Total = £45,870

Yield of 13.1%.

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.