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12 bedroom block of apartments for sale
Zak Court, Guildford Road, Fratton PO1 5PB
£1,000,000
Zak Court, Guildford Road, Fratton PO1 5PB
£1,000,000
Our Summary
- OFFERS INVITED PRIOR TO AUCTION
- GUIDE PRICE: £1,000,000We invite immediate offers (strictly on Auction terms) for this lucrative, first-class INVESTMENT opportunity, being a MODERN BLOCK OF 7 APARTMENTS (2 x one-bedroom, 4 x two-bedroom, 1 x three-bedroom, plus garages and parking), all LET AND PRODUCING £63,660 p
- (with scope for significant uplift), equivalent to a gross annual yield of 6%-plus
- Rarely is a Freehold block such as this presented to the open market - 7 low-maintenance units under one roof, a very healthy current income, scope for uplift to be applied, and with potential for future breakdown disposal
Description
This lucrative investment opportunity is a modern block of 7 apartments, all let and producing £63,660 per annum, equivalent to a gross annual yield of 6% plus. The property, known as Zak Court, is located on a prominent corner position in a convenient residential area, with good city access and proximity to public amenities. The building has a mix of one, two, and three-bedroom apartments, all with secure entry, electric heating, and full double-glazing. The units are currently let on Assured Shorthold Tenancy agreements, with a total monthly rental income of £5,305. The property is freehold, with low maintenance requirements, and there is scope for future uplift or breakdown disposal. The guide price is £1,000,000, and offers are invited prior to auction.