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3 bed flat
Marine Cottage, Barmouth LL42
£188,160
Marine Cottage, Barmouth LL42
£188,160
Our Summary
- Originally a single large house, 1,2 & 3 Marine Cottages consist of two self-contained flats and a cellar, offering a strong investment opportunity in a sought-after location
- Unit 3 is a cellar space with renovation potential
- It could possibly be converted into a studio apartment, subject to planning permission and works
- Considering the purchase price and the potential rental income that could be earned in future years, this will make for a worthwhile addition to an investors property portfolio
- Please see the Let Property Pack linked below for more details on this property's investment potential
- Investment potential detailed below (Let Property Pack)
Description
This property, consisting of two self-contained flats and a cellar, offers a strong investment opportunity in a sought-after location in Barmouth. Flat 1, on the ground floor, has one bedroom, lounge, kitchen, bathroom, and entrance hallway, while Flat 2, on the first and second floors, has three bedrooms, a large lounge, kitchen/dining room, and a three-piece bathroom, currently let year-round as a holiday rental via Airbnb. The cellar space, Unit 3, has renovation potential and could be converted into a studio apartment, subject to planning permission and works. The portfolio currently produces an annual gross income of £25,650, making it a worthwhile addition to an investor's property portfolio. The current tenants, who have resided in the property for several years, are keen to remain and have consistently paid their rent, ensuring a smooth transition for the new buyer.