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Our Summary
- The property currently generates an annual rental income of approximately £23,400, offering an immediate return with potential for future rental growth
- An excellent investment opportunity in a strong and consistently popular rental location
- There is also potential for rental uplift over time, subject to review, offering scope to further enhance yields in line with market conditions
- A freehold investment opportunity in a strong and well-connected coastal location, ideally suited to landlords seeking a reliable, income-producing asset with long-term growth potential
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Description
The property is a freehold block of 4 self-contained flats located in the Ramshill area of Scarborough, within walking distance of the promenade, South Bay beach, and local attractions. The flats range in size from 23 to 70.3 square meters and are currently generating an annual rental income of approximately £23,400. Each rental property has a coin-operated meter for electricity supply, with water supply included in the rents.
The property is subject to selective licensing, with a current licence in place.