St. Marys Close,  Preston, PR1 2 bed flat for sale

>

St. Marys Close, Preston, PR1 2 bed flat for sale

St. Marys Close, Preston, PR1
£75,000

Our Summary

  • Ideally needs modernisation, but great potential
  • The flat would benefit from some modernisation, hence the very competitive listing price

Description

This two-bedroom ground-floor flat is currently rented out for £650 per month and offers a yield of 11% on a £70,000 purchase price, making it an attractive investment opportunity. The property has been tenanted for over three years and is sold with the tenant in situ, providing a steady income stream. While the flat needs some modernisation, it has great potential and is situated in an area of high rental demand. The property is leasehold, with a ground rent of just £15 per year, and benefits from double glazing. The current tenant is willing to stay on, providing a smooth transition for the new owner. Viewings are set to commence on or after January 2nd, 2025, and interested parties are encouraged to contact Lancashire Sales and Lettings to book a viewing or make an offer.