3 bedroom terraced house for sale

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3 bedroom terraced house for sale

Newark Road, Lincoln LN5
£165,000

Our Summary

  • Investment Opportunity
  • An excellent investment opportunity located on Newark Road, just south of Lincoln city centre, within easy walking distance of the High Street, train station, South Common and a range of local amenities
  • There is further potential to enhance the investment – neighbouring properties show precedent for conversion into three flats (subject to the relevant planning consents), which could increase the rental income and future returns

Description

This investment opportunity is a three-storey mid-terraced property located on Newark Road, just south of Lincoln city centre, within walking distance to the High Street, train station, and local amenities. The property has been converted into two self-contained flats, both currently let to long-term tenants, generating an annual income of approximately £12,840 and offering a yield of around 7.78%. The ground floor flat features a double bedroom, living area, kitchen, bathroom, and private rear garden, while the first-floor flat is a well-proportioned duplex with a kitchen diner, lounge, bathroom, and two bedrooms. There is potential to enhance the investment by converting the property into three flats, subject to relevant planning consents, which could increase the rental income and future returns.