Terraced house for sale in Wainfleet Road, Skegness PE25

Detailed Description

A excellent investment opportunity - this successfully run block of flats offers an investor the chance to buy a ready set up and running block of 5 self contained apartments plus it includes a Garage/workshop with further letting potential. Currently offering around a 10% yield . The location is ideal - just a couple of minutes walk from the town centre and 30 seconds from Morrisons. The whole property consists of a main building with three one bedroom flats & a very large two bedroom maisonette. At the rear there is a large garage + workshop (suitable for various uses) and a two bedroom flat above. All apartments have their own electric heating (except the maisonette which has its own gas central heating) and double glazing. There is an area of hardstanding/parking at the rear and an enclosed courtyard frontage. All the flats are occupied (as of 2023) on assured shorthold tenancies and the new owner will retain all rights and responsibilities of the landlord on completion.

Main Building: , With a front porch/lobby and further secure door to:

Main hallway - with emergency lighting, smoke alarm and stairs leading to the first floor landing.

The ground floor hallway provides access to Flat One and the Maisonette

Flat 1 (ground floor): , Entrance Lobby
Lounge/Kitchenette 5.26m x 4.29m (17'3" x 14'1") maximum
Bedroom 3.96m x 4.37m (13' x 14'4") max into recess
Shower Room

Maisonette: , Front/Dining Room 4.60m x 4.44m (15'1" x 14'7")
Lounge 4.44m x 4.09m (14'7" x 13'5")
Kitchen 5.33m x 2.95m (17'6" x 9'8")
Rear entrance lobby
Bathroom 2.92m x 1.83m (9'7" x 6')
Stairs & Landing
Bedroom One 3.43m x 2.97m (11'3" x 9'9")
Bedroom Two 3.66m x 2.16m (12' x 7'1")

Main Stairs & Landing: , providing access to a communal storage cupboard and to Flats 2 and 3

Flat 2 (first floor): , Lounge
Kitchenette
Bedroom
Shower Room

Flat 3 (first floor - front): , Hallway
Kitchen 3.53m x 3.23m (11'7" x 10'7")
Lounge 4.57m x 3.35m (15' x 11')
Bedroom 4.14m x 2.92m (13'7" x 9'7") ext to 14'9
Shower Room 1.40m x 1.75m (4'7" x 5'9") ext to 8'10

Flat 4 (accessed separately from the rear): , Flat 4 is accessed from the rear of the property with its own independent external door:-

Ground floor Lobby/Hallway with stairs leading to the first floor
First floor landing/hallway
Lounge/Diner 4.42m x 4.22m (14'6" x 13'10") maximum
Kitchen 2.31m x 1.90m (7'7" x 6'3")
Bedroom One 4.42m x 2.51m (14'6" x 8'3")
Bedroom Two 2.29m x 2.26m (7'6" x 7'5")
Shower Room

Garage & Workshop: , Positioned at the rear of the building, (underneath Flat 4) with a full sized up and over door and a separate personnel door at the side.
Divided into two large rooms with electric connected to both. Currently used as storage and workshop.
Room One = 6.20m x 4.57m (20'4" x 15')
Room Two = 4.04m x 3.56m (13'3" x 11'8")

EPC's: , Flat 1:-
Flat 2:-
Flat 3:-
Flat 4 (24A):-
Maisonette:-

Council Tax Bands: , Flat 1:- A
Flat 2:- A
Flat 3:- A
Flat 4 (24A):- A
Maisonette:- A

Current Rental Income: , As of Nov 2023 the rental income equates to £29,400