5 bedroom block of apartments for sale

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5 bedroom block of apartments for sale

22 Wellesley Road, Clacton-on-Sea
£410,000

Our Summary

  • Blake & Thickbroom are pleased to be offering for sale this investment opportunity comprising of a substantial semi-detached house currently converted into four flats, consisting of (3 x one bedroom flats) & (1 x two bedroom split level flat )

Description

Blake & Thickbroom presents a unique investment opportunity in Clacton, comprising a semi-detached house converted into four flats. The property is currently generating an annual rent of £30,000, yielding 7.3% on the asking price, with potential for an increased rent of £32,400 (7.9% yield) if reviewed. The property benefits from communal parking and is conveniently located near the town center, seafront, and mainline railway station. The property is freehold, with council tax bands ranging from A to E, and services such as electricity, gas, water, and sewerage are connected. Although the EPC has expired, renewal is in progress. The property has a non-standard feature, having undergone a conversion from five flats to four, with a planning permission number of 03/01574/ful.
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