Property Brief
Block of three apartments under a single freehold title. The building consists of 1 x vacant one-bed apartments and 2 x tenanted two-bed duplex apartments. There is a good-sized rear garden. 

The property has recently been fitted with a modern fire alarm system and also benefits from internal insulation to the front of the property and external insulation to the rear.

The two tenanted units generate £739 pcm. Market rent for each unit would generate £1,450 pcm or £17,400 pa.

Condition Report 
The overall condition of the building appears to be good with no apparent, visible defects. Communal areas are generally in okay condition. The garden is unkept.

Apartment 1 - Kitchen and bathroom are in fair condition and the property has recently been painted throughout. New flooring is needed.

Apartment 2 - Fair condition throughout. Dated but serviceable.

Apartment 3 - Fair condition throughout. Dated but serviceable.

General Information
Apt 1 (1-bed)
Size: 39 sq m
Current rent: Vacant
Market rent: £450 pcm
Tenancy start date: N/a

Apt 2 (2-bed duplex)
Size: 63 sq m
Current rent: £346 pcm
Market rent: £500 pcm
Tenancy start date: August 1999

Apt 3 (2-bed duplex)
Size: 65 sq m
Current rent: £393 pcm
Market rent: £500 pcm
Tenancy start date: August 2012

Compliance
Apt 1
Electrical certificate (EICR): Test date June 2024
Gas safety certificate: Test date July 2025
EPC Rating: C (74), potential C (75)
Council Tax Band: A

Apt 2
Electrical certificate (EICR): Test date June 2024
Gas safety certificate: Test date July 2025
EPC Rating: C (71), potential C (74)
Council Tax Band: A

Apt 3
Electrical certificate (EICR): Test date June 2024
Gas safety certificate: Test date July 2025
EPC Rating: C (69), potential C (70)
Council Tax Band: A

Figures
Estimated upfront costs:

Deposit = £32,500
Stamp duty = £6,600
Ultralets fee = £2,340

Total = £41,440 (not including solicitor and mortgage broker fees).

Current yield is 11% (or 13.4% at market rent).

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.