6 bedroom block of apartments for sale

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6 bedroom block of apartments for sale

Northumberland Avenue, Blackpool
£185,000

Our Summary

  • For Sale by Online Auction with A Starting Bid of £185,000
  • See WebbMove for all the Auction Details
  • The block occupies a large plot and could be redesigned and extended to add additional apartments, increasing the potential rental income significantly (STPP)

Description

This rare opportunity presents a substantial block of four apartments, totaling almost 2,500 square feet, located in a sought-after position in Bispham, near Queen's Promenade. The block sits on a large plot, offering potential for redesign and extension to increase rental income. Currently, the apartments generate circa £24,000 per annum, yielding almost 13% gross. The property includes a ground floor flat with outside space, currently let for £606.67 per month, as well as three additional apartments, two of which are currently let and one is vacant but expected to let soon. The property offers a unique investment opportunity, with the potential to purchase a second block of apartments on Knowle Avenue as a portfolio at a discounted rate.
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