To be purchased separately or as part of a portfolio. Remaining properties listed below:

Link 1
Link 2


Property Brief
Mid-terrace, freehold property consisting of two self-contained flats with communal front entrance. Flat 1 is situated on the ground floor, consisting of two bedrooms and exclusive access to a low-maintenance rear yard. Flat 2 is a three-bed duplex situated on the first and second floors. 

Both units are gas central heated with split utilities and no landlord meters. Tenants are responsible for all utility costs.

Condition Report 
The property appears to be in a good overall condition with no obvious, visible defects apparent.

Flat 1 - Kitchen is in fair condition, whilst the bathroom is dated but serviceable. General decoration recommended before letting.

Flat 2 - Fair condition throughout. No works recommended.

General Information
Flat 1 (2-bed)
Size: 64 sq m
Current rent: Vacant
Market rent: £600 pcm

Flat 2 (3-bed duplex)
Size: 101 sq m
Current rent: £460 pcm
Market rent: £650 pcm

Comparables

Two neighbouring properties pictured above. Both listed for £185,000, the sold prices are currently unknown. One property was split into 3 flats (4 total bedrooms), the other, a vacant house.

Compliance
Apt 1
Electrical certificate (EICR): Test date April 2021
Gas certificate: Test date July 2025
EPC Rating: D (57), potential C (76)
Council Tax Band: A

Apt 2
Electrical certificate (EICR): Test date April 2021
Gas certificate: Test date July 2025
EPC Rating: C (55), potential C (78)
Council Tax Band: A

Figures
Estimated upfront costs below:

Deposit = £37,500
Stamp duty = £8,000
Ultralet's buyer fee = £2,700

Total = £48,200 (plus solicitor / mortgage arrangement fees)

Yield of 8.5% once flat 1 is tenanted (or 10% if rents for both units are at market rate).

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