Block of flats for sale in St Albans Road, Watford WD24

Investment Consideration:
Gross initial yield: 5.71%
Rental Income: £30,000 p.a.
Comprises two first floor self-contained flats situated within a mid-terrace building
Leasehold. The property is held on a single lease for a term of 125 years from 24th June 1999 (thus having approximately 101 years unexpired) at a current ground rent of £100 per annum
Situated on the east side of St Albans Road (A412), to the south of its junction with Brixton Road

Property Description:
The property comprises two first floor self-contained flats situated within a mid-terrace building arranged over ground and first floors beneath a pitched roof.

The property provides the following accommodation and dimensions:
First Floor Flat (138a): 65 sq m (700 sq ft)
First Floor Flat (140a): 66 sq m (710 sq ft)

Tenure:
Leasehold. The property is held on a single lease for a term of 125 years from 24th June 1999 (thus having approximately 101 years unexpired) at a current ground rent of £100 per annum.

Tenancy:
Flat 138a is at present let on an AST to an Individual for a term of 12 Months from 1st October 2023 at a current rent of £15,000 per annum. Deposit held of £1,050. Flat 138b is at present let on an AST to an Individual for a term of 12 Months from 4th August 2022 at a current rent of £15,000 per annum. Deposit held of £1,250.

Location:
The property is situated on the east side of St Albans Road (A412), to the south of its junction with Brixton Road. Local shops are available, with the further and more extensive facilities of Watford town centre and the Intu Shopping Centre also being within easy reach. Local bus routes run along St Albans Road (A412) and Rail and London Overground services run from Watford Junction Station, providing access into Central London. St Albans Road provides access to both the A41 and A405 and in turn the M1 Motorway. The open spaces of Cassiobury Public Park are also within easy reach.