Sponsored Find a Solicitor — free quotes via ReallyMoving
1 bed terraced house
Next Steps
Sponsored — free quotes via ReallyMoving
Find a Solicitor
Fast conveyancing is critical at auction — compare fees
Our Summary
- STARTING BID £170,000 An excellent opportunity for investors to acquire a fully tenanted residential portfolio comprising three freehold properties and four individual dwellings, offered for sale as a single lot by auction with a starting bid of £170,000
- Japanese knotweed has been identified at this property and a quotation of £2,800 has been obtained for a treatment plan, with further information to be made available within the auction legal pack
- The existing rents are understood not to have been reviewed or increased recently and therefore offer potential for future rental growth
- If the estimated rental values were achieved, the potential gross yield would increase to approximately 15
- Prospective purchasers should satisfy themselves regarding the tenancy documentation, rental accounts, estimated rental values, condition of the properties, status of the flat conversion and proposed Japanese knotweed treatment plan by inspecting the auction legal pack before bidding
Get alerted when similar properties are listed — Subscribe
Description
The property portfolio comprises three freehold properties and four individual dwellings. The portfolio includes two three-bedroom terraced houses at 357 and 367 Weelsby Street, and a substantial property at 189 Hainton Avenue, which has been divided into two self-contained one-bedroom flats. The properties occupy established residential locations within Grimsby and are conveniently located for local amenities, public transport links, and the town centre.
The properties are currently generating a combined passing rent of £1,845 per calendar month, equivalent to £22,140 per annum, representing a gross yield of approximately 13.0%.