Investment opportunity to purchase a residential block of six individual flats as a freehold. This property is located in Knighton with close access to the Clarendon Park area and the array of shops and bars on Queens Road. It is also conveniently located close to London Road with easy access to the City Centre and the train station. All flats are currently occupied on Assured Shorthold Tenancies and generating a rental income of £28,212 per annum.
*Potential 7.4% Return on capital employed gross (See investor information).
Located on the ground floor, overlooking the front of the property, this flat has an open plan kitchen/lounge area, with a double bedroom and en-suite bathroom.
Also located on the ground floor, this one bedroom flat has laminate flooring running through the lounge and bedroom.
Overlooking the front of the property from the first floor this studio apartment has wooden flooring, with a bay window letting in natural light to the room.
This first floor flat is situated at the back of the property, with a large kitchen/lounge and double bedroom with en-suite bathroom.
Onto the second floor this studio apartment has a small hallway with WC, large studio area and a separate shower cubicle.
Located on the second floor is the last studio apartment decorated to a similar decor as the rest of the flats.
Based on a sale at £615,000 and a rental income of £2351pcm
- 75% loan assuming standard btl loan at 3% (interest only)
- Capital used £193,700 (including deposit, stamp duty and conveyancing)
- Annual pre tax profit of £14,374.50 = 7.4% pre tax income on capital used
[Please note that these figures are an illustration based on an average buy to let mortgage and deposit and actual costs may vary.]
We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller by separate negotiation.