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Agent's details

London N19 - Freehold Residential Block Investment with Development Potential

For sale: £600,000.00|1,076 Sq Ft|Residential

Property details

FOR SALE£600,000.00
SIZE1,076 Sq Ft
ADDRESS372 Hornsey Road, London, Greater London, N19 4HT
TYPEResidential
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON30th November 2021

Description

Investment Consideration:
Gross Initial Yield: 5.90%
Rental Income: £35,400 p.a.
Comprises 1 x 1-Bed and 1 x 3-Bed Flat, arranged over ground, first and second floor
Total area size of 100 sq m (1,076 sq ft)
Development potential for mansard style roof extension, subject to obtaining the necessary consents
Nearby occupiers include Tesco Express, CrossFit Gym, Pharmacy, Restaurants and others.

Property Description:
The property comprises three-storey mid-terrace building arranged as 1 x 1-bed flat at ground floor and 1 x 3-bed flat at first/second floor. Development potential for mansard style roof extension, subject to obtaining the necessary consents.
The property provides the following accommodation and dimensions:
Ground Floor: Flat 1 45 sq m (484 sq ft)
1 Bedroom, Living Room, Kitchen, Bathroom/WC
First/Second Floor: Flat 2 55 sq m (592 sq ft)
3 Bedrooms, Living Room, Kitchen, Bathroom/WC

Tenancy:
The ground floor flat is at present let on AST to an Individual for a term of 12 Months from 16th December 2020 at a current rent of £12,000 per annum. Deposit held of £1,153. The first/second floor flat is at present let on AST to an Individuals for a term of 12 Months from 13th November 2021 at a current rent of £23,400 per annum. Deposit held of £2,250.

Location:
Finsbury Park is an area towards the northern edge of Inner London, England, which grew up around an important railway interchange near the convergence of the Boroughs of Islington, Haringey and Hackney. The area is centred on Finsbury Park station, a major bus, rail and tube interchange near the southern end of the 46 hectare (110-acre) public park of the same name. The property is located in predominantly residential area with occupiers nearby including Tesco Express, CrossFit Gym, Pharmacy, Restaurant/Takeaways and others.

Location

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Location: 372 Hornsey Road, London, Greater London, N19 4HT

Finsbury Park (0.5 miles)

Arsenal (0.7 miles)

Archway (0.7 miles)

Upper Holloway (0.4 miles)

Crouch Hill (0.4 miles)

Finsbury Park (0.5 miles)

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