Auction Date: 22nd & 23rd January 2020
Three Storey Terrace House
Sub divided to form two flats
Ready made investment opportunity
Tenants in situ
Current rent £14,200 pa
Good transport links
Close to local amenities
•Auction Date: 22nd & 23rd January 2020
•Three Storey Terrace House
•Sub divided to form two flats
•Ready made investment opportunity
•Tenants in situ
•Current rent £14,200 pa
GUIDE PRICE: £99,950
Located on the west side of Birkin Avenue close to the junction of Gregory Boulevard in the Radford area of Nottingham. The immediate vicinity hosts a good range of local amenities including an Asda Superstore, a health centre along with a wide range of local independent retailers. The NET transport stop is located just 400 metres from the property and provides access to Nottingham city centre within 10 minutes.
The property is entered via the main communal front door and flat B is located to the ground floor, with the bathroom being located on the first floor, Flat B also has access to the cellar. Flat A is located on the first and second floor and comprises two bedrooms / lounges a shared kitchen and bathroom.
The property also benefits from having full double glazing, a full fire alarm system and emergency escape lighting
Outside of the property enjoys unrestricted on street parking and a rear yard that also can provide access to the ground floor unit.
The property is currently let to three individuals in receipt of social housing benefit, two tenants generate £395 pcm each and the other tenant generates £363 payable every 4 weeks. This equates to a total gross income of £14,200 pa representing a gross yield of 14.2%.
All benefits are payable direct to the landlord.
85sq m (915 sq ft)
We understand the property to have mains electricity, water and drainage. Prospective purchasers are advised to make their own enquiries. The tenants are responsible for their own utility bills.
The property is rated in council tax band A and the rate payable for 2019/2020 is £1359 pa, the tenants are responsible for the council tax payable.
2% (min. £3,600) inc. VAT
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