Block of flats for sale in Westmorland Street, Wakefield WF1

Pure Investor is delighted to bring to the market this fantastic opportunity to purchase six apartments in the same development. The apartments consist of five, one-bedroom apartments and one, two-bedroom apartment. Every one-bedroom apartment comes with a family bathroom and the two bedroom has two bathrooms. The apartments are spread over three floors with flats 1 & 2 on the ground floor, flats 3 & 4 on the first floor and flats 5 & 6 in the top floor. Each apartment is fully occupied with many of the tenants being in a significant period of time, with one being in one of the apartments for over ten years. Each apartment has been well maintained by the current landlord and the tenants also do the same.

Situated in Wakefield town centre the apartments are ideally located for people who work in Wakefield or would need to get public transport out of the town. There are two bus stops directly outside the development on both sides of the road. Wakefield bus station is a 4-minute walk and buses running to Leeds, Bradford, Huddersfield etc. Wakefield train station is a 13-minute walk where trains run to London, Leeds, Sheffield and offers connecting trains to Manchester and Manchester Airport.

Investment Information

- Address: 22/24 Westmoreland Street, Wakefield WF1 1PJ
- Asking Price: £459,995.00
- Property Type: 6 Apartments (5 x 1-bedroom apartments, 1x 2-bedroom apartments)
o Flat 1 - £625.00pcm - been in the apartment for 3 years
o Flat 2 - £645.00pcm - been in the apartment for 1 year
o Flat 3 - £600.00pcm - been in the apartment for around 10 years
o Flat 4 - £725.00pcm - been in the apartment for 2 years
o Flat 5 - £541.67pcm - been in the apartment for around 10 years
o Flat 6 - £600.00pcm - been in the apartment for around 10 years
- Overall Rental Income: £3,736,67pcm (£44,840.04 per annum)
- Gross Yield: 9.7%
- Tenants pay for their own bills. Only additional costs would be to the communal areas which the landlord has confirmed has been minimal since purchasing.
- Tenure: Leasehold (990-years remaining approx)
- After speaking to the tenants, they have confirmed that they intend to stay
- We have visited the development personally and have visited all the apartments apart from one and looked at the communal areas.