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1 bedroom flat for sale
Lesbourne Road, Reigate RH2
£225,000
Lesbourne Road, Reigate RH2
£225,000
Our Summary
- With a realistic current rentable value of £1200pcm there is plenty of scope to increase to around a 6
Description
This one double bedroom, split-level flat in Reigate is a well-presented property with a generous bay fronted lounge/diner, fitted kitchen, and a dual aspect double bedroom with an ensuite featuring both a bath and separate shower. The flat is located in the heart of Reigate, just a few minutes' walk from the High Street and Priory Park, with Reigate Train Station also within a 0.6-mile radius. The property is currently rented to a long-term tenant at £925 per month, generating a 4.93% yield, and has a realistic current rentable value of £1200 per month, offering scope to increase the yield to around 6.4% in the current market. With 105 years of lease remaining and a ground rent of £100 per month, this property presents an attractive investment opportunity for investors.