Block of flats for sale in Albany Road, Cardiff CF24

An opportunity to acquire an attractive fully let residential investment just outside of Cardiff City Centre

3 x 1 bed apartments located above a retail unit on Albany Road (please note the commercial unit is not included as part of the sale & cannot be included as held under separate ownership). The 3 flats included within the sale are positioned as follows: First Floor Rear, Second Floor Front and Second Floor Rear. (First Floor Front and Ground Floor Rear not included held under separate ownership along with the commercial unit).

The flats are being sold fully furnished - the tenants may have some of their own possessions in the flats, but the beds, sofas, dining table & chairs, wardrobes, etc are all included within the sale (full list of items available upon request).

The apartments would have great future potential to be run as Airbnb or Serviced Accommodation to increase the annual rental income, given its close proximity to Cardiff City Centre and the Principality Stadium, with premium nightly rates achieved with key events taking place at the Stadium.

Let on Standard Occupation Contracts producing a total income of £26,400 per annum;

VAT-free investment;

Tenure: Each flat is held long leasehold for a term of 150 years from 11th December 2018 at £100 per annum ground rent, therefore a total ground rent of £300 per annum.

Tenancy Schedule:-

Flat 1: Let at £750 pcm
Flat 3: Let at £750 pcm
Flat 4: Let at £700 pcm
Combined monthly passing rent: £2,200 pcm
Total annual passing rent': £26,400 pax

Fantastic opportunity to potentially increase future rental income by running the flats as serviced accommodation or Airbnb in this prime spot just 15 mins walk distance from Cardiff City Centre.

Price: £299,950 reflecting 8.7% gross yield after deducting the annual ground rent payable (£100 per annum per flat).
Our client may also consider offers for selling each flat investment individually - please contact us to discuss further.